Caisse de depot et placement du Quebec Acquires Shares of 521,801 Cincinnati Financial Corporation $CINF

Caisse de depot et placement du Quebec acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 521,801 shares of the insurance provider’s stock, valued at approximately $96,606,000. Caisse de depot et placement du Quebec owned approximately 0.34% of Cincinnati Financial as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CINF. Geode Capital Management LLC lifted its stake in Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after purchasing an additional 25,888 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $1,231,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Cincinnati Financial in the first quarter worth approximately $12,002,000. Manning & Napier Advisors LLC purchased a new stake in shares of Cincinnati Financial in the second quarter worth approximately $3,585,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Cincinnati Financial by 3.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 359,259 shares of the insurance provider’s stock worth $58,017,000 after acquiring an additional 10,483 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $172.38 on Thursday. The firm has a market cap of $26.46 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $178.01 and its 200 day moving average is $168.65.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter in the prior year, the company earned $1.97 EPS. On average, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 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 Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is presently 17.74%.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of recent analyst reports. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler lifted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Roth Capital upped their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.40.

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.