Legal & General Group Plc Boosts Stock Holdings in Cincinnati Financial Corporation $CINF

Legal & General Group Plc increased its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,169,922 shares of the insurance provider’s stock after acquiring an additional 21,322 shares during the period. Legal & General Group Plc’s holdings in Cincinnati Financial were worth $184,965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bison Wealth LLC purchased a new stake in Cincinnati Financial during the 4th quarter worth about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after purchasing an additional 525 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after buying an additional 173,343 shares during the period. Penserra Capital Management LLC grew its position in shares of Cincinnati Financial by 12.5% during the second quarter. Penserra Capital Management LLC now owns 845 shares of the insurance provider’s stock worth $125,000 after buying an additional 94 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in shares of Cincinnati Financial by 4.2% during the second quarter. AE Wealth Management LLC now owns 4,240 shares of the insurance provider’s stock worth $631,000 after buying an additional 171 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CINF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Finally, Piper Sandler raised their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $174.33.

Cincinnati Financial Stock Up 0.1%

CINF stock opened at $164.23 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $174.27. The company’s 50 day moving average is $163.46 and its two-hundred day moving average is $161.19. The stock has a market cap of $25.56 billion, a P/E ratio of 10.83, a PEG ratio of 3.65 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.51. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.14 EPS. Research analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio is presently 22.94%.

Cincinnati Financial 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.