Hsbc Holdings PLC Has $99.69 Million Stock Holdings in Cincinnati Financial Corporation $CINF

Hsbc Holdings PLC boosted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 26.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 537,417 shares of the insurance provider’s stock after purchasing an additional 112,485 shares during the period. Hsbc Holdings PLC owned about 0.35% of Cincinnati Financial worth $99,691,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CINF. Keating Financial Advisory Services Inc. acquired a new stake in shares of Cincinnati Financial during the 2nd quarter valued at $27,000. Covestor Ltd increased its holdings in Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 83 shares in the last quarter. Motiv8 Investments LLC acquired a new position in Cincinnati Financial in the 4th quarter worth about $29,000. Cassaday & Co Wealth Management LLC bought a new position in Cincinnati Financial in the first quarter valued at about $34,000. Finally, DV Equities LLC bought a new position in Cincinnati Financial in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. Piper Sandler raised their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target of $195.40.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $171.10 on Monday. The firm’s 50-day moving average price is $177.48 and its 200-day moving average price is $168.96. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The firm has a market capitalization of $26.26 billion, a P/E ratio of 8.07, a P/E/G ratio of 3.58 and a beta of 0.53. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the business posted $1.97 EPS. Equities research analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s payout ratio is currently 17.74%.

Insiders Place Their Bets

In related news, Director Dirk Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.94% of the company’s stock.

About Cincinnati Financial

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.