J. Safra Sarasin Holding AG Buys Shares of 5,587 Cincinnati Financial Corporation $CINF

J. Safra Sarasin Holding AG bought a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the third quarter, HoldingsChannel reports. The firm bought 5,587 shares of the insurance provider’s stock, valued at approximately $883,000.

Other large investors have also modified their holdings of the company. Narwhal Capital Management increased its stake in Cincinnati Financial by 62.4% in the third quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock valued at $7,109,000 after purchasing an additional 17,276 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its holdings in Cincinnati Financial by 127.9% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,310 shares of the insurance provider’s stock valued at $2,104,000 after buying an additional 7,469 shares during the period. Strs Ohio increased its stake in shares of Cincinnati Financial by 322.9% during the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after acquiring an additional 71,378 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Cincinnati Financial by 139.4% during the 3rd quarter. SG Americas Securities LLC now owns 24,720 shares of the insurance provider’s stock valued at $3,908,000 after acquiring an additional 14,396 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Cincinnati Financial by 37.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 242,604 shares of the insurance provider’s stock worth $36,129,000 after acquiring an additional 66,005 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

CINF opened at $158.40 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $169.86. The company has a 50 day moving average of $163.79 and a two-hundred day moving average of $158.16. The company has a market cap of $24.71 billion, a P/E ratio of 11.79, a P/E/G ratio of 3.56 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 EPS. On average, analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd were given a $0.87 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $3.48 annualized dividend and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is 25.89%.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Roth Mkm reissued a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average target price of $174.33.

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.