Canada Pension Plan Investment Board Purchases 36,676 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Canada Pension Plan Investment Board lifted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 13.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 309,564 shares of the insurance provider’s stock after purchasing an additional 36,676 shares during the period. Canada Pension Plan Investment Board owned about 0.20% of Cincinnati Financial worth $36,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its stake in shares of Cincinnati Financial by 252.2% in the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC acquired a new position in shares of Cincinnati Financial in the second quarter worth approximately $29,000. Raleigh Capital Management Inc. acquired a new position in shares of Cincinnati Financial in the fourth quarter worth approximately $31,000. Future Financial Wealth Managment LLC acquired a new position in shares of Cincinnati Financial in the first quarter worth approximately $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Cincinnati Financial in the second quarter worth approximately $49,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Trading Down 0.8 %

NASDAQ CINF opened at $134.63 on Friday. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 2.60 and a beta of 0.66. Cincinnati Financial Co. has a 52 week low of $96.86 and a 52 week high of $139.34. The business has a 50 day moving average price of $130.65 and a 200-day moving average price of $122.27. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, equities analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.41%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Analyst Ratings Changes

A number of equities analysts recently commented on CINF shares. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Bank of America dropped 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. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Roth Mkm boosted their price target on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.57.

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.