Cincinnati Financial Corporation $CINF Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,589 shares of the insurance provider’s stock after selling 14,023 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cincinnati Financial were worth $22,471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CINF. Norges Bank acquired a new position in shares of Cincinnati Financial in the fourth quarter worth $270,892,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after acquiring an additional 396,086 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock worth $215,562,000 after acquiring an additional 367,224 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after acquiring an additional 262,715 shares in the last quarter. Finally, Korea Investment CORP grew its stake in shares of Cincinnati Financial by 210.0% in the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock worth $46,548,000 after acquiring an additional 199,437 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several research reports. Bank of America dropped their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. Keefe, Bruyette & Woods boosted 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. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Piper Sandler lifted their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $183.25.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $169.34 on Tuesday. The stock has a market cap of $26.20 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 3.67 and a beta of 0.57. The company has a fifty day simple moving average of $163.93 and a 200-day simple moving average of $163.49. Cincinnati Financial Corporation has a 12-month low of $143.37 and a 12-month high of $174.27. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06.

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

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is 21.50%.

About Cincinnati Financial

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.