Cincinnati Financial Corporation $CINF Shares Acquired by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd lifted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 240.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,106 shares of the insurance provider’s stock after buying an additional 24,790 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Cincinnati Financial were worth $5,550,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Bison Wealth LLC purchased a new stake in Cincinnati Financial during the fourth quarter worth about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cincinnati Financial by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after purchasing an additional 525 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 during the period. Empowered Funds LLC grew its holdings in shares of Cincinnati Financial by 1.1% in the second quarter. Empowered Funds LLC now owns 22,795 shares of the insurance provider’s stock valued at $3,395,000 after purchasing an additional 252 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Cincinnati Financial by 6.8% in the second quarter. Handelsbanken Fonder AB now owns 25,967 shares of the insurance provider’s stock valued at $3,867,000 after purchasing an additional 1,649 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 0.3%

Shares of NASDAQ:CINF opened at $158.33 on Friday. The firm’s 50 day moving average price is $163.36 and its 200 day moving average price is $161.60. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 3.53 and a beta of 0.63. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, topping the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the business posted $3.14 EPS. The firm’s revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.4%. Cincinnati Financial’s payout ratio is presently 22.94%.

Analyst Ratings Changes

A number of research firms have issued reports on CINF. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Piper Sandler upped their price objective on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $174.33.

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.