Hsbc Holdings PLC Has $64.74 Million Stake in Cincinnati Financial Corporation $CINF

Hsbc Holdings PLC raised its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 19.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 395,583 shares of the insurance provider’s stock after purchasing an additional 63,954 shares during the period. Hsbc Holdings PLC’s holdings in Cincinnati Financial were worth $64,737,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth $270,892,000. Arrowstreet Capital Limited Partnership raised its stake in Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock valued at $98,161,000 after purchasing an additional 396,086 shares in the last quarter. First Trust Advisors LP lifted its position in Cincinnati Financial by 38.5% during the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock worth $215,562,000 after purchasing an additional 367,224 shares during the period. Raymond James Financial Inc. lifted its position 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 worth $119,682,000 after purchasing an additional 262,715 shares during the period. Finally, Korea Investment CORP grew 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 worth $46,548,000 after buying an additional 199,437 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CINF. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Bank of America reduced their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Roth Mkm boosted their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $192.03 on Monday. Cincinnati Financial Corporation has a one year low of $143.87 and a one year high of $192.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $29.71 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 4.15 and a beta of 0.54. The firm has a 50 day simple moving average of $168.51 and a 200 day simple moving average of $164.96.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Research analysts predict that Cincinnati Financial Corporation will post 8.66 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is 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.