Bank of New York Mellon Corp Boosts Stock Position in Cincinnati Financial Corporation $CINF

Bank of New York Mellon Corp increased its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,047,063 shares of the insurance provider’s stock after purchasing an additional 24,452 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cincinnati Financial were worth $164,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CINF. Lodestone Wealth Management LLC purchased a new stake in Cincinnati Financial in the 4th quarter worth approximately $25,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial in the 4th quarter worth approximately $29,000. DV Equities LLC purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $36,000. Legacy Wealth Managment LLC ID increased its stake in shares of Cincinnati Financial by 78.8% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after buying an additional 108 shares during the period. Finally, SHP Wealth Management bought a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 2.6%

Shares of NASDAQ CINF opened at $180.79 on Friday. The firm’s 50 day moving average price is $171.96 and its 200-day moving average price is $165.98. Cincinnati Financial Corporation has a 52-week low of $143.87 and a 52-week high of $194.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $27.97 billion, a PE ratio of 10.34, a P/E/G ratio of 3.70 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm earned ($0.24) earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Cincinnati Financial Corporation will post 8.76 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CINF. Bank of America dropped their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday. Roth Capital upped their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.40.

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.