Cincinnati Financial Corporation $CINF Stock Position Boosted by Anchor Investment Management LLC

Anchor Investment Management LLC raised its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 2,388.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 17,069 shares of the insurance provider’s stock after buying an additional 16,383 shares during the period. Anchor Investment Management LLC’s holdings in Cincinnati Financial were worth $2,788,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $270,892,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Cincinnati Financial by 193.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after buying an additional 396,086 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock valued at $215,562,000 after buying an additional 367,224 shares during the period. Raymond James Financial Inc. boosted its stake in Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in Cincinnati Financial by 210.0% during the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after buying an additional 199,437 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 11th. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Piper Sandler boosted their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Finally, Bank of America cut their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.25.

Cincinnati Financial Stock Down 0.7%

Shares of Cincinnati Financial stock opened at $170.25 on Friday. Cincinnati Financial Corporation has a 12-month low of $143.37 and a 12-month high of $174.27. The firm has a market capitalization of $26.34 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 3.72 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $164.62 and its 200-day moving average is $163.55.

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

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio is currently 21.50%.

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.