1,082,054 Shares in Cincinnati Financial Corporation $CINF Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 1.08 million shares of Cincinnati Financial worth approximately $200.3 million, giving it a 0.71% stake. Institutional investors collectively own 65.24% of the insurer.
• Cincinnati Financial reported quarterly EPS of $1.43, missing the $1.82 consensus estimate, while revenue reached $4.27 billion. Analysts expect full-year EPS of $8.31.
• The company declared a quarterly dividend of $0.94 per share, equivalent to an annualized $3.76 payout and a 2.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $195.40.

Legal & General Group Plc acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,082,054 shares of the insurance provider's stock, valued at approximately $200,331,000. Legal & General Group Plc owned 0.71% of Cincinnati Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Keating Financial Advisory Services Inc. bought a new position in Cincinnati Financial during the second quarter worth $27,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial during the 4th quarter worth about $29,000. Covestor Ltd grew its stake in Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after buying an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Cincinnati Financial in the 1st quarter valued at about $34,000. Finally, DV Equities LLC acquired a new stake in Cincinnati Financial during the fourth quarter worth approximately $36,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Up 0.6%

CINF stock opened at $172.38 on Thursday. The company 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. The business has a 50-day simple moving average of $178.01 and a 200 day simple moving average of $168.65. Cincinnati Financial Corporation has a 52 week low of $150.00 and a 52 week high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released 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 net margin of 23.84% and a return on equity of 9.63%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the business earned $1.97 earnings per share. Sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be paid a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial's dividend payout ratio is presently 17.74%.

Analysts Set New Price Targets

Several research firms recently weighed in on CINF. Keefe, Bruyette & Woods dropped their price target on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a report on Wednesday, August 5th. Roth Capital increased their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Piper Sandler lifted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Weiss Ratings cut shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Friday, August 21st. Finally, Bank of America downgraded shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and decreased their price target for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $195.40.

About Cincinnati Financial

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.

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