Hsbc Holdings PLC Buys 112,485 Shares of Cincinnati Financial Corporation $CINF

Hsbc Holdings PLC grew its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 26.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 537,417 shares of the insurance provider’s stock after buying an additional 112,485 shares during the quarter. Hsbc Holdings PLC’s holdings in Cincinnati Financial were worth $99,691,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new position in Cincinnati Financial in the second quarter valued at $496,000. Beacon Pointe Advisors LLC bought a new stake in Cincinnati Financial during the second quarter worth about $11,074,000. Rakuten Investment Management Inc. bought a new stake in Cincinnati Financial during the second quarter worth about $4,721,000. Glenview Trust Co purchased a new position in shares of Cincinnati Financial in the 2nd quarter worth about $1,122,000. Finally, Empowered Funds LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter valued at about $6,452,000. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $171.10 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The company’s 50 day moving average price is $177.48 and its 200-day moving average price is $168.96. The stock has a market capitalization of $26.26 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 3.58 and a beta of 0.53.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the prior year, the company earned $1.97 earnings per share. Equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 17.74%.

Insider Activity

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the transaction, the director directly owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.94% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CINF shares. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital increased their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Finally, Piper Sandler upped their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $195.40.

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.