Swiss National Bank Grows Holdings in Cincinnati Financial Corporation $CINF

Swiss National Bank grew its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 6.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 457,900 shares of the insurance provider’s stock after acquiring an additional 29,400 shares during the period. Swiss National Bank’s holdings in Cincinnati Financial were worth $72,051,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Triton Financial Group Inc grew its position in shares of Cincinnati Financial by 0.7% during the 4th quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock valued at $1,718,000 after acquiring an additional 73 shares during the period. Essex Financial Services Inc. raised its holdings in Cincinnati Financial by 3.5% in the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 77 shares during the period. HUB Investment Partners LLC boosted its position in Cincinnati Financial by 3.9% during the second quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 77 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in Cincinnati Financial by 1.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 4,363 shares of the insurance provider’s stock worth $669,000 after purchasing an additional 77 shares in the last quarter. Finally, William B. Walkup & Associates Inc. grew its holdings in Cincinnati Financial by 2.9% in the first quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider’s stock valued at $428,000 after purchasing an additional 82 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $180.51 on Wednesday. The business has a 50 day simple moving average of $172.64 and a two-hundred day simple moving average of $166.21. Cincinnati Financial Corporation has a 12 month low of $143.87 and a 12 month high of $194.81. The stock has a market capitalization of $27.92 billion, a P/E ratio of 10.32, a PEG ratio of 3.69 and a beta of 0.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company posted ($0.24) earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Cincinnati Financial Corporation will post 8.76 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is currently 21.50%.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Bank of America cut their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Piper Sandler upped their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.40.

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.