Cincinnati Financial Co. (NASDAQ:CINF) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 8.1% in the third quarter, HoldingsChannel reports. The firm owned 22,744 shares of the insurance provider’s stock after acquiring an additional 1,712 shares during the period. CIBC Asset Management Inc’s holdings in Cincinnati Financial were worth $3,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Cincinnati Financial by 39.4% during the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after buying an additional 277,550 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after purchasing an additional 187,934 shares during the period. Natixis bought a new stake in shares of Cincinnati Financial during the first quarter valued at about $22,053,000. Bahl & Gaynor Inc. lifted its holdings in Cincinnati Financial by 10.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after purchasing an additional 107,081 shares during the period. Finally, TD Asset Management Inc grew its position in Cincinnati Financial by 126.4% in the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock valued at $21,259,000 after buying an additional 100,487 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Roth Mkm increased their price target on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler raised their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Trading Up 0.2 %

Shares of NASDAQ CINF opened at $152.13 on Tuesday. The business has a fifty day simple moving average of $139.84 and a 200-day simple moving average of $128.56. The company has a market cap of $23.78 billion, a price-to-earnings ratio of 7.82, a P/E/G ratio of 2.89 and a beta of 0.65. Cincinnati Financial Co. has a 12 month low of $99.61 and a 12 month high of $152.85. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the business earned $1.66 earnings per share. Sell-side analysts predict that Cincinnati Financial Co. will post 6.32 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.13%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.