Cincinnati Financial Corporation $CINF Shares Acquired by Amundi

Key Points

• Amundi increased its stake in Cincinnati Financial Corporation by 12.0%, acquiring an additional 22,745 shares, bringing its total ownership to 212,976 shares valued at approximately $30.8 million.
• Analysts have raised their price targets for Cincinnati Financial, with Keefe, Bruyette & Woods increasing their target from $167.00 to $168.00, while Roth Capital set a new price objective at $175.00.
• Throughout the first quarter, several institutional investors made significant acquisitions in Cincinnati Financial, increasing the overall institutional ownership to 65.24% of the company's stock.

Amundi grew its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 212,976 shares of the insurance provider's stock after purchasing an additional 22,745 shares during the quarter. Amundi owned approximately 0.14% of Cincinnati Financial worth $30,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Cincinnati Financial by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock worth $2,844,419,000 after purchasing an additional 87,773 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Cincinnati Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after acquiring an additional 358,018 shares during the last quarter. Invesco Ltd. boosted its position in shares of Cincinnati Financial by 2.2% during the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock valued at $273,062,000 after acquiring an additional 40,222 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Cincinnati Financial during the 1st quarter valued at about $270,005,000. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Cincinnati Financial by 4.2% during the 1st quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider's stock valued at $205,061,000 after acquiring an additional 55,487 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Trading Down 0.2%

NASDAQ:CINF traded down $0.32 on Friday, reaching $156.45. 84,307 shares of the company's stock were exchanged, compared to its average volume of 662,650. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $24.46 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 7.45 and a beta of 0.72. The business has a fifty day moving average of $151.00 and a 200-day moving average of $145.95. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. As a group, analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is presently 30.18%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CINF shares. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Roth Capital boosted their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $159.40.

About Cincinnati Financial

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.