J. Safra Sarasin Holding AG Takes Position in Cincinnati Financial Corporation $CINF

J. Safra Sarasin Holding AG purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,587 shares of the insurance provider’s stock, valued at approximately $883,000.

Several other institutional investors have also recently added to or reduced their stakes in CINF. AlphaQuest LLC grew its stake in shares of Cincinnati Financial by 714.3% in the 2nd quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Cincinnati Financial during the third quarter worth approximately $34,000. SJS Investment Consulting Inc. lifted its holdings in shares of Cincinnati Financial by 2,538.5% during the third quarter. SJS Investment Consulting Inc. now owns 343 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 330 shares during the period. CYBER HORNET ETFs LLC purchased a new position in Cincinnati Financial in the 2nd quarter valued at $60,000. Finally, GoalVest Advisory LLC increased its stake in Cincinnati Financial by 58.9% in the 2nd quarter. GoalVest Advisory LLC now owns 410 shares of the insurance provider’s stock valued at $61,000 after buying an additional 152 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 0.3%

Shares of Cincinnati Financial stock opened at $158.40 on Thursday. The company has a 50-day moving average of $163.79 and a two-hundred day moving average of $158.16. The stock has a market cap of $24.71 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 3.56 and a beta of 0.66. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $169.86.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd were issued a $0.87 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $3.48 annualized dividend and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio is 25.89%.

Wall Street Analysts Forecast Growth

CINF has been the topic of several analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday, October 28th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Finally, Piper Sandler lifted their price target on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target of $174.33.

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.