Cincinnati Financial Corporation $CINF Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 20.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,022,611 shares of the insurance provider’s stock after purchasing an additional 170,574 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cincinnati Financial were worth $167,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Natixis Advisors LLC raised its stake in Cincinnati Financial by 9.5% during the 4th quarter. Natixis Advisors LLC now owns 164,552 shares of the insurance provider’s stock worth $26,875,000 after acquiring an additional 14,239 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in Cincinnati Financial by 2.8% during the 4th quarter. New Mexico Educational Retirement Board now owns 7,287 shares of the insurance provider’s stock worth $1,190,000 after acquiring an additional 200 shares in the last quarter. Waterloo Capital L.P. raised its stake in Cincinnati Financial by 5.9% during the 4th quarter. Waterloo Capital L.P. now owns 15,075 shares of the insurance provider’s stock worth $2,462,000 after acquiring an additional 845 shares in the last quarter. Essex Financial Services Inc. raised its stake in Cincinnati Financial by 3.5% during the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock worth $374,000 after acquiring an additional 77 shares in the last quarter. Finally, MUFG Securities EMEA plc raised its stake in Cincinnati Financial by 240.7% during the 4th quarter. MUFG Securities EMEA plc now owns 10,198 shares of the insurance provider’s stock worth $1,666,000 after acquiring an additional 7,205 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CINF shares. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Piper Sandler lifted their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Bank of America cut their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Stock Up 2.9%

CINF stock opened at $165.29 on Friday. Cincinnati Financial Corporation has a one year low of $143.37 and a one year high of $174.27. The stock has a market capitalization of $25.57 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The company has a fifty day moving average of $162.76 and a 200-day moving average of $163.41.

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

Cincinnati Financial Announces Dividend

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