Federation des caisses Desjardins du Quebec Purchases 3,061 Shares of Cincinnati Financial Corporation $CINF

Federation des caisses Desjardins du Quebec boosted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 71.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,331 shares of the insurance provider's stock after buying an additional 3,061 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Cincinnati Financial were worth $1,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park National Corp OH raised its holdings in Cincinnati Financial by 0.6% during the 1st quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock valued at $1,874,000 after buying an additional 72 shares during the last quarter. Spire Wealth Management raised its holdings in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in Cincinnati Financial by 0.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock valued at $2,871,000 after buying an additional 91 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in Cincinnati Financial by 4.1% in the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after acquiring an additional 94 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. boosted its holdings in Cincinnati Financial by 5.2% in the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock valued at $279,000 after acquiring an additional 94 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on CINF shares. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Roth Capital lifted their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $159.40.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $153.46 on Tuesday. The business has a fifty day simple moving average of $150.62 and a two-hundred day simple moving average of $145.71. The firm has a market capitalization of $24.00 billion, a P/E ratio of 13.31, a P/E/G ratio of 7.51 and a beta of 0.72. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its 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. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company's revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. On average, equities analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

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.

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