Baird Financial Group Inc. Has $90.94 Million Position in Cincinnati Financial Corporation $CINF

Key Points

• Baird Financial Group increased its Cincinnati Financial position by 354.9% in the second quarter, owning 491,223 shares valued at approximately $90.94 million. Institutional investors and hedge funds collectively own 65.24% of CINF.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $195.40, despite several recent target reductions and downgrades.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 consensus estimate, while revenue reached $4.27 billion. The company declared a quarterly dividend of $0.94, representing a 2.2% annualized yield.

Baird Financial Group Inc. boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 354.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 491,223 shares of the insurance provider's stock after purchasing an additional 383,234 shares during the quarter. Baird Financial Group Inc. owned about 0.32% of Cincinnati Financial worth $90,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CINF. California State Teachers Retirement System increased its stake in Cincinnati Financial by 20,126.7% during the 2nd quarter. California State Teachers Retirement System now owns 41,788,505 shares of the insurance provider's stock worth $7,736,724,000 after acquiring an additional 41,581,904 shares during the period. State Street Corp lifted its position in shares of Cincinnati Financial by 0.3% during the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider's stock valued at $1,357,825,000 after acquiring an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider's stock worth $1,083,151,000 after purchasing an additional 97,761 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock worth $671,265,000 after purchasing an additional 25,888 shares during the period. Finally, First Trust Advisors LP raised its stake in Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider's stock valued at $331,136,000 after purchasing an additional 784,584 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Dirk Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, the director directly owned 62,059 shares of the company's stock, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.94% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CINF has been the topic of a number of analyst reports. Bank of America downgraded shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. 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. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their price target on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 5th. Finally, Piper Sandler boosted their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cincinnati Financial currently has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Trading Down 1.1%

Shares of Cincinnati Financial stock opened at $169.14 on Wednesday. The firm has a market capitalization of $25.96 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 3.58 and a beta of 0.53. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm's 50 day moving average is $176.85 and its 200 day moving average is $169.04. Cincinnati Financial Corporation has a 1 year low of $150.00 and a 1 year high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the company earned $1.97 EPS. Equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio is presently 17.74%.

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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