Canada Pension Plan Investment Board Makes New $10.42 Million Investment in Cincinnati Financial Corporation $CINF

Key Points

• Canada Pension Plan Investment Board acquired 56,300 shares of Cincinnati Financial worth approximately $10.42 million, while institutional investors collectively own 65.24% of the company.
• Analysts maintain a generally positive outlook, with Cincinnati Financial receiving a “Moderate Buy” consensus rating and an average price target of $195.40 versus its recent price near $171.97.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 consensus estimate, but announced a quarterly dividend of $0.94 per share, equal to a 2.2% annual yield.

Canada Pension Plan Investment Board acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 56,300 shares of the insurance provider's stock, valued at approximately $10,423,000.

A number of other large investors also recently modified their holdings of the stock. State Street Corp grew its holdings in Cincinnati Financial by 0.3% during the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider's stock worth $1,357,825,000 after buying an additional 26,475 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $1,083,151,000 after acquiring an additional 97,761 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $671,265,000 after purchasing an additional 25,888 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of 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 during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Cincinnati Financial by 4.2% during the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider's stock valued at $299,553,000 after purchasing an additional 80,487 shares in the last quarter. Institutional investors own 65.24% of the company's stock.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was bought at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.94% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CINF. 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. Piper Sandler lifted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Bank of America cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Finally, Roth Capital upped their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and a consensus target price of $195.40.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $171.97 on Friday. The company's 50-day moving average is $178.09 and its 200 day moving average is $168.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $26.39 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 3.60 and a beta of 0.54. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share 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 for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted $1.97 EPS. On average, equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

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

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