Cincinnati Financial Co. (NASDAQ:CINF) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,744 shares of the insurance provider’s stock after purchasing an additional 1,712 shares during the period. CIBC Asset Management Inc’s holdings in Cincinnati Financial were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CINF. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of Cincinnati Financial during the third quarter worth $27,000. Rothschild Investment LLC purchased a new position in shares of Cincinnati Financial in the second quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in Cincinnati Financial during the 3rd quarter valued at $29,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CINF shares. Roth Mkm raised their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler lifted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $152.13 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 12 month low of $99.61 and a 12 month high of $152.85. The company has a fifty day moving average price of $139.84 and a two-hundred day moving average price of $128.56. The company has a market cap of $23.78 billion, a PE ratio of 7.82, a P/E/G ratio of 2.89 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm posted $1.66 earnings per share. Research analysts expect that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.13%. Cincinnati Financial’s payout ratio is 16.65%.

Cincinnati Financial Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.