Hsbc Holdings PLC Has $61.42 Million Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Hsbc Holdings PLC trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 520,143 shares of the insurance provider’s stock after selling 1,309 shares during the quarter. Hsbc Holdings PLC owned about 0.33% of Cincinnati Financial worth $61,416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Waterloo Capital L.P. lifted its position in shares of Cincinnati Financial by 24.9% during the 2nd quarter. Waterloo Capital L.P. now owns 6,469 shares of the insurance provider’s stock worth $764,000 after purchasing an additional 1,290 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Cincinnati Financial by 11.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,709 shares of the insurance provider’s stock worth $1,242,000 after buying an additional 1,105 shares during the period. Amalgamated Bank lifted its holdings in shares of Cincinnati Financial by 30.5% during the second quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock worth $4,976,000 after buying an additional 9,854 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Cincinnati Financial by 261.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,508 shares of the insurance provider’s stock valued at $1,595,000 after acquiring an additional 9,768 shares during the period. Finally, Argent Trust Co grew its stake in shares of Cincinnati Financial by 5.0% in the second quarter. Argent Trust Co now owns 2,009 shares of the insurance provider’s stock worth $237,000 after acquiring an additional 95 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Down 0.4 %

NASDAQ CINF opened at $135.77 on Friday. Cincinnati Financial Co. has a 1-year low of $96.86 and a 1-year high of $139.34. The company has a market capitalization of $21.26 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.60 and a beta of 0.66. The stock’s 50 day moving average is $130.41 and its two-hundred day moving average is $122.04. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.39%. The ex-dividend date is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CINF shares. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Roth Mkm increased their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America lowered their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.57.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.