Eurizon Capital SGR S.p.A. Buys New Stake in Cincinnati Financial Corporation $CINF

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Cincinnati Financial during the fourth quarter, buying 7,540 shares valued at about $1.23 million.
• Several large institutional investors also increased their stakes, and hedge funds and other institutions own 65.24% of the stock.
• Analysts remain generally positive, with an average rating of “Buy” and an average price target of $183.25; the company also reported strong quarterly results, including EPS of $2.10 versus estimates of $1.93.

Eurizon Capital SGR S.p.A. bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,540 shares of the insurance provider's stock, valued at approximately $1,231,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Cincinnati Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider's stock valued at $3,221,579,000 after acquiring an additional 123,110 shares in the last quarter. State Street Corp grew its stake in Cincinnati Financial by 0.3% during the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider's stock valued at $1,357,825,000 after acquiring an additional 26,475 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 valued at $671,265,000 after acquiring an additional 25,888 shares in the last quarter. Bank of America Corp DE grew its stake in 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 valued at $299,553,000 after acquiring an additional 80,487 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Cincinnati Financial by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,471,628 shares of the insurance provider's stock valued at $232,643,000 after acquiring an additional 46,426 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CINF. Roth Mkm raised their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Wall Street Zen cut shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Finally, Bank of America dropped their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $183.25.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $158.00 on Wednesday. Cincinnati Financial Corporation has a 52 week low of $143.37 and a 52 week high of $174.27. The stock has a market capitalization of $24.44 billion, a P/E ratio of 9.03, a PEG ratio of 3.41 and a beta of 0.57. The firm has a fifty day simple moving average of $162.57 and a two-hundred day simple moving average of $163.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.61 billion. During the same period last year, the company posted ($0.24) EPS. The business's revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Cincinnati Financial Corporation will post 8.61 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial's dividend payout ratio (DPR) is 21.50%.

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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