Cincinnati Financial Corporation $CINF Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP boosted its stake in Cincinnati Financial by 210%, adding 199,437 shares to hold 294,423 shares worth about $46.55 million (≈0.19% ownership) after the 3rd quarter.
• Cincinnati Financial beat quarterly expectations with $3.37 EPS vs. $2.86 est. and revenue of $3.09 billion (vs. $2.92B est.), with revenue up 21.8% year-over-year.
• The company raised its quarterly dividend to $0.94 (annualized $3.76, ~2.3% yield); the ex-dividend date is March 24 and the payment date is April 15.

Korea Investment CORP boosted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 210.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 294,423 shares of the insurance provider's stock after acquiring an additional 199,437 shares during the quarter. Korea Investment CORP owned about 0.19% of Cincinnati Financial worth $46,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CINF. Bison Wealth LLC bought a new stake in shares of Cincinnati Financial in the 4th quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider's stock valued at $2,823,000 after purchasing an additional 525 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock worth $83,889,000 after buying an additional 173,343 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in Cincinnati Financial by 5.5% during the second quarter. Resona Asset Management Co. Ltd. now owns 64,669 shares of the insurance provider's stock worth $9,573,000 after buying an additional 3,362 shares in the last quarter. Finally, Savant Capital LLC grew its position in Cincinnati Financial by 29.5% in the second quarter. Savant Capital LLC now owns 30,831 shares of the insurance provider's stock worth $4,591,000 after buying an additional 7,022 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CINF has been the topic of several research reports. Wall Street Zen cut Cincinnati Financial from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 6th. Weiss Ratings restated a "buy (b+)" rating on shares of Cincinnati Financial in a report on Monday, December 29th. Finally, Piper Sandler boosted their target price on Cincinnati Financial from $150.00 to $157.00 and gave the stock a "neutral" rating in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus price target of $174.33.

Cincinnati Financial Stock Down 0.6%

CINF opened at $165.39 on Monday. The company has a market capitalization of $25.74 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 3.68 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The business has a 50-day moving average of $163.47 and a 200-day moving average of $161.01.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, beating the consensus estimate of $2.86 by $0.51. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $2.92 billion. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.14 EPS. Equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be given a $0.94 dividend. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 24th. Cincinnati Financial's payout ratio is presently 22.94%.

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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