Bank of New York Mellon Corp Grows Holdings in Cincinnati Financial Corporation $CINF

Bank of New York Mellon Corp raised its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,022,611 shares of the insurance provider’s stock after buying an additional 170,574 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Cincinnati Financial worth $167,013,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Oppenheimer & Co. Inc. grew its stake in Cincinnati Financial by 0.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 14,906 shares of the insurance provider’s stock valued at $2,357,000 after acquiring an additional 64 shares in the last quarter. Legacy Financial Strategies LLC grew its stake in Cincinnati Financial by 0.3% during the 3rd quarter. Legacy Financial Strategies LLC now owns 22,616 shares of the insurance provider’s stock valued at $3,576,000 after acquiring an additional 65 shares in the last quarter. State of Wyoming grew its stake in Cincinnati Financial by 5.4% during the 3rd quarter. State of Wyoming now owns 1,315 shares of the insurance provider’s stock valued at $208,000 after acquiring an additional 67 shares in the last quarter. Triton Financial Group Inc grew its stake in Cincinnati Financial by 0.7% during the 4th quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock valued at $1,718,000 after acquiring an additional 73 shares in the last quarter. Finally, NewEdge Wealth LLC grew its stake in Cincinnati Financial by 0.5% during the 3rd quarter. NewEdge Wealth LLC now owns 15,339 shares of the insurance provider’s stock valued at $2,455,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Roth Mkm boosted their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 27th. Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods boosted 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. Finally, Piper Sandler boosted their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Cincinnati Financial presently has a consensus rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $165.29 on Friday. The firm has a market cap of $25.57 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. Cincinnati Financial Corporation has a 52-week low of $143.37 and a 52-week high of $174.27. 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 company’s 50 day moving average is $162.76 and its two-hundred day moving average is $163.41.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the business earned ($0.24) EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

Cincinnati Financial 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.