SG Americas Securities LLC Boosts Position in Cincinnati Financial Corporation $CINF

SG Americas Securities LLC increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 48.4% during the 1st quarter, HoldingsChannel reports. The fund owned 199,339 shares of the insurance provider’s stock after acquiring an additional 64,988 shares during the quarter. SG Americas Securities LLC’s holdings in Cincinnati Financial were worth $31,366,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Cincinnati Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider’s stock worth $3,221,579,000 after purchasing an additional 123,110 shares during the last quarter. State Street Corp grew its stake in shares of Cincinnati Financial by 0.3% in the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after buying an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after buying an additional 97,761 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cincinnati Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after buying an additional 25,888 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Cincinnati Financial by 4.2% during the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock valued at $299,553,000 after buying an additional 80,487 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings cut Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 11th. Piper Sandler lifted their target price on Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Roth Mkm upped their price target on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Bank of America decreased their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.25.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $175.81 on Wednesday. The firm has a 50 day moving average of $165.23 and a two-hundred day moving average of $163.73. The stock has a market capitalization of $27.20 billion, a PE ratio of 10.05, a P/E/G ratio of 3.74 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 52 week low of $143.37 and a 52 week high of $175.98.

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

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be given 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 yield of 2.1%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 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.