Cincinnati Financial Corporation $CINF is Johnson Investment Counsel Inc.’s 8th Largest Position

Johnson Investment Counsel Inc. lifted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,405,680 shares of the insurance provider’s stock after purchasing an additional 37,913 shares during the period. Cincinnati Financial comprises approximately 1.9% of Johnson Investment Counsel Inc.’s portfolio, making the stock its 8th largest holding. Johnson Investment Counsel Inc.’s holdings in Cincinnati Financial were worth $222,238,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Cincinnati Financial in the second quarter worth $235,714,000. Vanguard Group Inc. boosted its stake in Cincinnati Financial by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after purchasing an additional 317,033 shares in the last quarter. Raymond James Financial Inc. grew its position in Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares during the last quarter. Amundi grew its position in Cincinnati Financial by 113.6% during the 2nd quarter. Amundi now owns 454,996 shares of the insurance provider’s stock valued at $66,479,000 after purchasing an additional 242,020 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after buying an additional 173,343 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CINF has been the topic of several recent analyst reports. Roth Mkm reiterated a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Piper Sandler raised their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Wall Street Zen cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.33.

Cincinnati Financial Price Performance

CINF opened at $168.70 on Tuesday. The business has a fifty day moving average of $163.62 and a 200 day moving average of $159.18. The stock has a market cap of $26.32 billion, a P/E ratio of 12.55, a PEG ratio of 3.89 and a beta of 0.66. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.14 earnings per share. As a group, sell-side analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s payout ratio is currently 25.89%.

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.