Cibc World Market Inc. Buys Shares of 16,785 Cincinnati Financial Corporation $CINF

Cibc World Market Inc. bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,785 shares of the insurance provider’s stock, valued at approximately $3,108,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cincinnati Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider’s stock worth $3,221,579,000 after buying an additional 123,110 shares during the period. State Street Corp increased its position in Cincinnati Financial by 0.3% in the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after acquiring an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. increased its position in Cincinnati Financial by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock valued at $1,083,151,000 after acquiring an additional 97,761 shares during the period. Geode Capital Management LLC raised its stake in Cincinnati Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after acquiring an additional 25,888 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Cincinnati Financial by 59.4% during the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after acquiring an additional 784,584 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CINF. Piper Sandler increased their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Roth Capital lifted their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Finally, Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.40.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $172.38 on Thursday. The stock has a market cap of $26.46 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 3.59 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The stock’s 50 day moving average price is $178.01 and its 200 day moving average price is $168.65.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (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 for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the business posted $1.97 earnings per share. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be issued a $0.94 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio is 17.74%.

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.