Norges Bank Purchases Shares of 1,658,658 Cincinnati Financial Corporation $CINF

Norges Bank bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,658,658 shares of the insurance provider’s stock, valued at approximately $270,892,000. Norges Bank owned 1.06% of Cincinnati Financial as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CINF. Bison Wealth LLC bought a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after purchasing an additional 525 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares during the period. Federated Hermes Inc. bought a new stake in shares of Cincinnati Financial in the 2nd quarter valued at about $101,000. Finally, Cerity Partners LLC raised its holdings in shares of Cincinnati Financial by 10.8% in the 2nd 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.

Analysts Set New Price Targets

CINF has been the topic of a number of research analyst reports. Piper Sandler upped 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. Wall Street Zen cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods increased their price target 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 lowered their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial has an average rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Stock Up 0.7%

Cincinnati Financial stock opened at $158.00 on Wednesday. The stock has a market cap of $24.44 billion, a P/E ratio of 9.03, a P/E/G ratio of 3.41 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a twelve month low of $143.37 and a twelve month high of $174.27. The company’s 50-day moving average price is $162.57 and its two-hundred day moving average price is $163.53.

Cincinnati Financial (NASDAQ:CINF) last released 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 firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the firm earned ($0.24) EPS. The business’s revenue was up 11.6% on a year-over-year basis. As a group, analysts expect that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.4%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 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.