Raymond James & Associates Raises Position in Cincinnati Financial Co. (NASDAQ:CINF)

Raymond James & Associates boosted its position in Cincinnati Financial Co. (NASDAQ:CINF) by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,228 shares of the insurance provider’s stock after purchasing an additional 10,208 shares during the period. Raymond James & Associates’ holdings in Cincinnati Financial were worth $8,334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its holdings in Cincinnati Financial by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock valued at $23,367,000 after acquiring an additional 7,709 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Cincinnati Financial by 40.6% during the 1st quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock valued at $20,904,000 after purchasing an additional 48,597 shares during the period. Vest Financial LLC lifted its holdings in Cincinnati Financial by 14.0% during the 2nd quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after purchasing an additional 46,530 shares in the last quarter. SG Americas Securities LLC boosted its stake in Cincinnati Financial by 77.3% in the 1st quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock worth $5,326,000 after purchasing an additional 18,704 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Cincinnati Financial by 91.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock valued at $14,016,000 after buying an additional 56,686 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CINF shares. Roth Mkm raised their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Piper Sandler lifted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America upped their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $142.00 on Wednesday. The stock’s 50-day moving average is $136.55 and its 200 day moving average is $125.64. The stock has a market cap of $22.23 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 2.62 and a beta of 0.66. Cincinnati Financial Co. has a 1-year low of $97.72 and a 1-year high of $145.33. 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 posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business posted $1.66 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.28%. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Cincinnati Financial 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.