O Shaughnessy Asset Management LLC Boosts Stock Holdings in Cincinnati Financial Corporation $CINF

O Shaughnessy Asset Management LLC raised its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,868 shares of the insurance provider’s stock after purchasing an additional 4,058 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Cincinnati Financial were worth $11,248,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CINF. Norges Bank purchased a new position in shares of Cincinnati Financial in the fourth quarter worth about $270,892,000. Raymond James Financial Inc. grew its position in shares of Cincinnati Financial by 48.6% in the second 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 in the last quarter. Korea Investment CORP grew its position in shares of Cincinnati Financial by 210.0% in the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after purchasing an additional 199,437 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Cincinnati Financial in the fourth quarter valued at $32,692,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

CINF has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Roth Mkm lifted their price target on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 27th. Bank of America reduced their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Piper Sandler boosted their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $183.25.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $166.43 on Thursday. The company has a 50 day moving average of $163.26 and a 200 day moving average of $163.45. The stock has a market cap of $25.75 billion, a P/E ratio of 9.52, a P/E/G ratio of 3.56 and a beta of 0.57. Cincinnati Financial Corporation has a 12 month low of $143.37 and a 12 month high of $174.27. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.93 by $0.17. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.24) earnings per share. As a group, sell-side analysts forecast that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio is presently 21.50%.

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.