BNP Paribas Financial Markets Acquires 72,849 Shares of Cincinnati Financial Corporation $CINF

BNP Paribas Financial Markets lifted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 28.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 325,747 shares of the insurance provider’s stock after acquiring an additional 72,849 shares during the period. BNP Paribas Financial Markets owned approximately 0.21% of Cincinnati Financial worth $53,201,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CINF. Cibc World Market Inc. bought a new stake in shares of Cincinnati Financial in the 3rd quarter worth about $2,511,000. Western Wealth Management LLC bought a new position in shares of Cincinnati Financial in the third quarter valued at about $1,622,000. Johnson Investment Counsel Inc. raised its holdings in shares of Cincinnati Financial by 2.8% in the third quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock valued at $222,238,000 after buying an additional 37,913 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Cincinnati Financial in the third quarter valued at about $1,503,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Cincinnati Financial by 74.8% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,339 shares of the insurance provider’s stock valued at $2,267,000 after buying an additional 6,135 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Trading Up 0.7%

NASDAQ CINF opened at $158.00 on Wednesday. The stock has a 50-day simple moving average of $162.57 and a 200 day simple moving average of $163.53. The company has a market capitalization of $24.44 billion, a PE ratio of 9.03, a P/E/G ratio of 3.41 and a beta of 0.57. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12 month low of $143.37 and a 12 month high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the company posted ($0.24) earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is presently 21.50%.

Analyst Ratings Changes

Several research firms have recently commented on CINF. Wall Street Zen cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 27th. Piper Sandler boosted their target price on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Bank of America dropped their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.