Cincinnati Financial Corporation $CINF Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 50.2% in the first quarter, HoldingsChannel.com reports. The firm owned 903,028 shares of the insurance provider’s stock after acquiring an additional 301,995 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Cincinnati Financial were worth $142,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CINF. Bison Wealth LLC acquired a new stake in shares of Cincinnati Financial during the fourth quarter valued at $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cincinnati Financial by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after purchasing an additional 525 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Cincinnati Financial in the second quarter worth about $101,000. Finally, Cerity Partners LLC boosted its stake in shares of Cincinnati Financial by 10.8% in the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock valued at $7,115,000 after purchasing an additional 4,674 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Shares of CINF opened at $182.81 on Friday. The company has a market capitalization of $28.28 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 3.74 and a beta of 0.54. Cincinnati Financial Corporation has a fifty-two week low of $143.87 and a fifty-two week high of $194.81. 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 business’s 50-day moving average is $173.56 and its 200-day moving average is $166.56.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping 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 business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the company posted ($0.24) earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Cincinnati Financial Corporation will post 8.76 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Roth Capital upped their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, June 26th. Piper Sandler raised their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods reiterated 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, Bank of America lowered their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. One 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.