Cibc World Market Inc. Acquires Shares of 16,785 Cincinnati Financial Corporation $CINF

Key Points

• Cibc World Market Inc. acquired 16,785 shares of Cincinnati Financial in the second quarter, valued at approximately $3.1 million. Institutional investors collectively own 65.24% of the insurer’s stock.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $195.40, although Bank of America and Keefe, Bruyette & Woods recently lowered their targets.
• Cincinnati Financial reported quarterly earnings of $1.43 per share, below the $1.82 consensus estimate, while announcing a quarterly dividend of $0.94, representing a 2.2% annualized yield.

Cibc World Market Inc. bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,785 shares of the insurance provider's stock, valued at approximately $3,108,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. OMERS ADMINISTRATION Corp acquired a new stake in Cincinnati Financial in the second quarter valued at $1,699,000. Osmosis Investment Management UK Ltd bought a new position in shares of Cincinnati Financial during the second quarter worth about $1,222,000. Sanctuary Advisors LLC bought a new position in shares of Cincinnati Financial during the second quarter worth about $5,909,000. Haverford Trust Co acquired a new position in Cincinnati Financial in the second quarter worth about $1,176,000. Finally, Bank of Nova Scotia bought a new stake in Cincinnati Financial in the second quarter valued at about $3,022,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CINF. Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Keefe, Bruyette & Woods lowered 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. Weiss Ratings cut Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research note on Friday, August 21st. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note 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 stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $172.38 on Thursday. The company has a market cap of $26.46 billion, a P/E ratio of 8.13, a PEG ratio of 3.59 and a beta of 0.54. The business has a 50 day moving average of $178.01 and a two-hundred day 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 announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter in the previous year, the company posted $1.97 earnings per share. As a group, analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

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

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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