Truepoint Inc. Buys 3,644 Shares of Cincinnati Financial Corporation $CINF

Truepoint Inc. lifted its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 89.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,731 shares of the insurance provider’s stock after acquiring an additional 3,644 shares during the period. Truepoint Inc.’s holdings in Cincinnati Financial were worth $1,263,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CINF. Norges Bank bought a new position in shares of Cincinnati Financial in the 4th quarter worth $270,892,000. Raymond James Financial Inc. raised its position in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after acquiring an additional 262,715 shares in the last quarter. Korea Investment CORP raised its position in shares of Cincinnati Financial by 210.0% in the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock worth $46,548,000 after acquiring an additional 199,437 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Cincinnati Financial in the 4th quarter worth $32,692,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $166.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The stock’s fifty day moving average price is $163.26 and its 200 day moving average price is $163.45. Cincinnati Financial Corporation has a 1 year low of $143.37 and a 1 year high of $174.27. The company has a market cap of $25.75 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 3.56 and a beta of 0.57.

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

Cincinnati Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 27th. Roth Mkm increased their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Bank of America decreased their price objective on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Piper Sandler increased their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a report 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 assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $183.25.

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.