MUFG Securities EMEA plc Increases Stake in Cincinnati Financial Corporation $CINF

MUFG Securities EMEA plc boosted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 240.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,198 shares of the insurance provider’s stock after purchasing an additional 7,205 shares during the quarter. MUFG Securities EMEA plc’s holdings in Cincinnati Financial were worth $1,666,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CINF. Norges Bank purchased a new stake in Cincinnati Financial during the 4th quarter valued at about $270,892,000. Raymond James Financial Inc. grew its position in Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares during the last quarter. Korea Investment CORP grew its position in Cincinnati Financial by 210.0% during the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after purchasing an additional 199,437 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in Cincinnati Financial during the 4th quarter valued at about $32,692,000. Finally, Goldman Sachs Group Inc. grew its position in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

CINF opened at $158.00 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $24.44 billion, a P/E ratio of 9.03, a P/E/G ratio of 3.41 and a beta of 0.57. The company’s 50-day simple moving average is $162.57 and its two-hundred day simple moving average is $163.53. Cincinnati Financial Corporation has a 52-week low of $143.37 and a 52-week high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.17. The business had revenue of $2.86 billion for 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 business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.24) EPS. As a group, analysts predict that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is 21.50%.

Analyst Ratings Changes

Several analysts recently commented on CINF shares. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 27th. Roth Mkm increased their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Bank of America lowered their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Piper Sandler upped their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $183.25.

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.