Cincinnati Financial Corporation $CINF Stock Holdings Lifted by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its stake in Cincinnati Financial by 3.3% to 1,471,628 shares (about $232.6M); Norges Bank opened a ~$235.7M position and Vanguard holds 19.57M shares, leaving 65.24% of the stock owned by institutions.
• Earnings beat and dividend hike: Cincinnati reported $3.37 EPS vs. $2.86 expected and revenue of $3.09B (up 21.8% YoY), and raised its quarterly dividend to $0.94 ($3.76 annualized, a 2.3% yield).
• Shares trade near $165.39 with a $25.74B market cap and a P/E of 10.9; analysts rate the stock a consensus “Moderate Buy” with an average price target of $174.33.

Dimensional Fund Advisors LP raised its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,471,628 shares of the insurance provider's stock after purchasing an additional 46,426 shares during the period. Dimensional Fund Advisors LP owned 0.94% of Cincinnati Financial worth $232,643,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CINF. Norges Bank acquired a new position in Cincinnati Financial in the second quarter worth approximately $235,714,000. Vanguard Group Inc. lifted its stake in Cincinnati Financial by 1.6% in the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider's stock valued at $2,914,738,000 after acquiring an additional 317,033 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock valued at $119,682,000 after acquiring an additional 262,715 shares during the last quarter. Amundi grew its position in Cincinnati Financial by 113.6% in the second quarter. Amundi now owns 454,996 shares of the insurance provider's stock worth $66,479,000 after acquiring an additional 242,020 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock worth $83,889,000 after acquiring an additional 173,343 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Down 0.6%

Shares of Cincinnati Financial stock opened at $165.39 on Friday. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $174.27. 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 stock has a 50 day moving average price of $163.47 and a two-hundred day moving average price of $160.96. The stock has a market capitalization of $25.74 billion, a P/E ratio of 10.90, a PEG ratio of 3.68 and a beta of 0.63.

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

Cincinnati Financial Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CINF shares. Wall Street Zen downgraded shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. Piper Sandler upped their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a "neutral" rating in a report on Monday, December 22nd. Weiss Ratings reissued a "buy (b+)" rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $180.00 to $191.00 and gave the company an "outperform" rating in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and an average price target of $174.33.

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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