Korea Investment CORP Has $17.67 Million Stock Holdings in Cincinnati Financial Corporation $CINF

Key Points

• Korea Investment CORP increased its stake in Cincinnati Financial Corporation by 28.6% during the first quarter, now holding a total of 119,628 shares valued at approximately $17.67 million.
• The company has received multiple analyst upgrades, with price targets rising, including a new target of $175.00 from Roth Capital, indicating a positive outlook among analysts.
• Cincinnati Financial reported earnings that surpassed expectations with an EPS of $1.97 for the last quarter, significantly exceeding the consensus estimate of $1.39.

Korea Investment CORP boosted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 28.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,628 shares of the insurance provider's stock after purchasing an additional 26,601 shares during the period. Korea Investment CORP owned about 0.08% of Cincinnati Financial worth $17,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CINF. Dimensional Fund Advisors LP lifted its stake in shares of Cincinnati Financial by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,415,742 shares of the insurance provider's stock valued at $203,438,000 after acquiring an additional 34,810 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Cincinnati Financial by 72.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,135 shares of the insurance provider's stock valued at $1,456,000 after acquiring an additional 4,261 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Cincinnati Financial by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 41,313 shares of the insurance provider's stock valued at $5,937,000 after acquiring an additional 745 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Cincinnati Financial by 223.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,428 shares of the insurance provider's stock valued at $1,499,000 after acquiring an additional 7,204 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Cincinnati Financial by 21.6% in the 4th quarter. Hsbc Holdings PLC now owns 382,931 shares of the insurance provider's stock valued at $54,981,000 after acquiring an additional 68,010 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Trading Up 0.2%

Cincinnati Financial stock traded up $0.28 during trading hours on Tuesday, reaching $153.59. 557,341 shares of the company's stock were exchanged, compared to its average volume of 588,797. 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's 50 day simple moving average is $149.26 and its 200 day simple moving average is $144.56. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $161.74. The firm has a market capitalization of $24.02 billion, a PE ratio of 13.32, a PEG ratio of 7.50 and a beta of 0.70.

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 for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the business posted $1.29 EPS. The business's revenue was up 15.5% compared to the same quarter last year. Research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be paid a $0.87 dividend. The ex-dividend date is Monday, September 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

Wall Street Analysts Forecast Growth

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