Johnson Financial Group Inc. Invests $837,000 in Cincinnati Financial Corporation $CINF

Johnson Financial Group Inc. bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 4,500 shares of the insurance provider’s stock, valued at approximately $837,000.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Cincinnati Financial in the fourth quarter worth $270,892,000. First Trust Advisors LP increased its holdings in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after buying an additional 784,584 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Cincinnati Financial by 193.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock valued at $98,161,000 after acquiring an additional 396,086 shares during the last quarter. Raymond James Financial Inc. boosted its holdings 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 acquiring an additional 262,715 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Cincinnati Financial during the 4th quarter worth approximately $32,692,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $168.49 on Thursday. The business’s fifty day moving average is $177.98 and its 200 day moving average is $168.49. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the previous year, the business posted $1.97 earnings per share. Research analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Roth Capital boosted their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods cut their price target 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 boosted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average price target of $195.40.

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.