BNP Paribas Financial Markets Purchases 72,849 Shares of Cincinnati Financial Corporation $CINF

BNP Paribas Financial Markets boosted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 28.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,747 shares of the insurance provider’s stock after purchasing an additional 72,849 shares during the period. BNP Paribas Financial Markets’ holdings in Cincinnati Financial were worth $53,201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cibc World Market Inc. bought a new stake in Cincinnati Financial during the 3rd quarter worth about $2,511,000. Western Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the 3rd quarter worth about $1,622,000. Johnson Investment Counsel Inc. lifted its stake in shares of Cincinnati Financial by 2.8% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock worth $222,238,000 after buying an additional 37,913 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Cincinnati Financial during the 3rd quarter worth about $1,503,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in Cincinnati Financial by 74.8% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,339 shares of the insurance provider’s stock worth $2,267,000 after acquiring an additional 6,135 shares during the period. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CINF shares. Bank of America lowered their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. 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 upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Piper Sandler raised their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $183.25.

Cincinnati Financial Trading Up 0.7%

Shares of CINF stock opened at $158.00 on Wednesday. Cincinnati Financial Corporation has a 52-week low of $143.37 and a 52-week high of $174.27. 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 company has a 50-day simple moving average of $162.57 and a two-hundred day simple moving average of $163.53. The company has a market capitalization of $24.44 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 3.41 and a beta of 0.57.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data 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. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.24) EPS. Research analysts anticipate that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

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.