Bank of New York Mellon Corp Has $164.75 Million Stake in Cincinnati Financial Corporation $CINF

Key Points

• Bank of New York Mellon increased its stake in Cincinnati Financial by 2.4% in the first quarter, ending with 1,047,063 shares valued at about $164.8 million.
• Several analysts remain constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $192.40.
• Cincinnati Financial reported better-than-expected quarterly earnings of $2.10 per share on revenue of $2.86 billion, and it recently paid a $0.94 quarterly dividend for a 2.1% annualized yield.

Bank of New York Mellon Corp raised its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,047,063 shares of the insurance provider's stock after acquiring an additional 24,452 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of Cincinnati Financial worth $164,755,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in CINF. Triton Financial Group Inc increased its position in shares of Cincinnati Financial by 0.7% during the 4th quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider's stock valued at $1,718,000 after purchasing an additional 73 shares during the last quarter. Essex Financial Services Inc. raised its position in shares of Cincinnati Financial by 3.5% during the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider's stock valued at $374,000 after buying an additional 77 shares in the last quarter. HUB Investment Partners LLC lifted its stake in Cincinnati Financial by 3.9% during the second quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider's stock worth $303,000 after purchasing an additional 77 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Cincinnati Financial by 1.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 4,363 shares of the insurance provider's stock valued at $669,000 after purchasing an additional 77 shares during the last quarter. Finally, William B. Walkup & Associates Inc. increased its position in shares of Cincinnati Financial by 2.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider's stock valued at $428,000 after purchasing an additional 82 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on CINF. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research report on Wednesday. Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, June 26th. Piper Sandler upped their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research note on Wednesday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Finally, Bank of America decreased their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.40.

Cincinnati Financial Price Performance

CINF opened at $180.79 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The stock's 50 day simple moving average is $171.96 and its 200 day simple moving average is $165.98. The firm has a market cap of $27.97 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.70 and a beta of 0.54. Cincinnati Financial Corporation has a 1 year low of $143.87 and a 1 year high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.17. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The business's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) earnings per share. As a group, analysts predict that Cincinnati Financial Corporation will post 8.76 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial's dividend payout ratio is currently 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.

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