1,658,658 Shares in Cincinnati Financial Corporation $CINF Acquired by Norges Bank

Norges Bank purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,658,658 shares of the insurance provider’s stock, valued at approximately $270,892,000.

Several other large investors have also made changes to their positions in CINF. Lodestone Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Cincinnati Financial during the 3rd quarter worth approximately $30,000. Legacy Wealth Managment LLC ID boosted its position in shares of Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 108 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $46,000. Finally, West Branch Capital LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CINF. Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Roth Mkm raised their target price on shares of 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 shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 27th. Bank of America cut their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Piper Sandler raised their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $183.25.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $158.00 on Wednesday. Cincinnati Financial Corporation has a fifty-two week low of $143.37 and a fifty-two week high of $174.27. 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 firm has a market capitalization of $24.44 billion, a P/E ratio of 9.03, a P/E/G ratio of 3.41 and a beta of 0.57. The company’s 50 day moving average price is $162.57 and its two-hundred day moving average price is $163.53.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted ($0.24) earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts forecast that Cincinnati Financial Corporation will post 8.61 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.4%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

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.