OMERS ADMINISTRATION Corp Acquires New Position in Cincinnati Financial Corporation $CINF

OMERS ADMINISTRATION Corp bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the second quarter, HoldingsChannel reports. The fund bought 9,178 shares of the insurance provider’s stock, valued at approximately $1,699,000.

A number of other institutional investors also recently modified their holdings of the stock. Keating Financial Advisory Services Inc. purchased a new stake in shares of Cincinnati Financial during the second quarter worth $27,000. Motiv8 Investments LLC acquired a new position in Cincinnati Financial in the 4th quarter worth about $29,000. Covestor Ltd raised its stake in shares of Cincinnati Financial by 98.8% during the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cincinnati Financial during the 1st quarter worth about $34,000. Finally, DV Equities LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the topic of a number of research reports. Piper Sandler increased their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Finally, Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus target price of $195.40.

Cincinnati Financial Stock Up 0.6%

Shares of CINF stock opened at $172.38 on Thursday. The stock has a 50 day moving average of $178.01 and a 200-day moving average of $168.65. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm has a market cap of $26.46 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the business earned $1.97 EPS. On average, equities analysts predict that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

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.