Cincinnati Financial Corporation $CINF Shares Acquired by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in Cincinnati Financial by 6.9% in the first quarter, buying 29,400 additional shares and bringing its total holding to 457,900 shares worth about $72.1 million.
• Cincinnati Financial reported strong quarterly results, with EPS of $2.10 beating estimates by $0.17 and revenue of $2.86 billion topping expectations, while revenue rose 11.6% year over year.
• The company continues to reward shareholders with a quarterly dividend of $0.94 per share, or $3.76 annually, for a yield of about 2.1%; analysts currently rate the stock a “Moderate Buy” with a consensus target price of $192.40.

Swiss National Bank lifted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 6.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 457,900 shares of the insurance provider's stock after acquiring an additional 29,400 shares during the period. Swiss National Bank owned approximately 0.30% of Cincinnati Financial worth $72,051,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Cincinnati Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider's stock worth $3,221,579,000 after purchasing an additional 123,110 shares in the last quarter. State Street Corp increased its stake in 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 purchasing an additional 26,475 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider's stock worth $1,083,151,000 after buying an additional 97,761 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cincinnati Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock worth $671,265,000 after buying an additional 25,888 shares during the period. Finally, Bank of America Corp DE lifted its stake 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 worth $299,553,000 after buying an additional 80,487 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Trading Up 0.1%

Shares of Cincinnati Financial stock opened at $180.51 on Wednesday. Cincinnati Financial Corporation has a 1 year low of $143.87 and a 1 year high of $194.81. 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 has a market cap of $27.92 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 3.69 and a beta of 0.54. The firm has a fifty day moving average price of $172.64 and a 200 day moving average price of $166.21.

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

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.1%. Cincinnati Financial's payout ratio is presently 21.50%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Piper Sandler lifted their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, June 26th. Bank of America reduced their price objective on Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Finally, Atlantic Securities set a $197.00 target price on Cincinnati Financial in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus target price of $192.40.

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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