OP Asset Management Ltd Takes $2.54 Million Position in Cincinnati Financial Corporation $CINF

OP Asset Management Ltd purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,157 shares of the insurance provider’s stock, valued at approximately $2,542,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Cincinnati Financial during the 4th quarter worth about $270,892,000. Arrowstreet Capital Limited Partnership increased its position in shares of Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after acquiring an additional 396,086 shares in the last quarter. First Trust Advisors LP increased its position in shares of Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock worth $215,562,000 after acquiring an additional 367,224 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after acquiring an additional 262,715 shares during the period. Finally, Korea Investment CORP lifted its position in shares of Cincinnati Financial by 210.0% in the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after acquiring an additional 199,437 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CINF shares. Bank of America decreased their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Piper Sandler raised their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Finally, Roth Mkm upped their target price on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $183.25.

Cincinnati Financial Stock Up 3.6%

Shares of Cincinnati Financial stock opened at $184.08 on Friday. Cincinnati Financial Corporation has a 12-month low of $143.87 and a 12-month high of $185.20. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $166.23 and a two-hundred day moving average price of $164.09. The stock has a market capitalization of $28.48 billion, a P/E ratio of 10.52, a PEG ratio of 4.00 and a beta of 0.57.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.17. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) EPS. Equities analysts expect that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a $0.94 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.0%. Cincinnati Financial’s payout ratio is presently 21.50%.

Cincinnati Financial Company 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.