Geode Capital Management LLC Has $671.27 Million Stake in Cincinnati Financial Corporation $CINF

Key Points

• Geode Capital Management slightly increased its Cincinnati Financial stake by 0.6% in the fourth quarter, ending with 4.13 million shares worth about $671.3 million.
• The company reported strong quarterly results, with EPS of $2.10 beating estimates and revenue of $2.86 billion, up 11.6% year over year.
• Cincinnati Financial also announced a quarterly dividend of $0.94 per share, and analysts currently have a consensus Buy rating with an average price target of $183.25.

Geode Capital Management LLC raised its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 0.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,125,979 shares of the insurance provider's stock after purchasing an additional 25,888 shares during the period. Geode Capital Management LLC owned approximately 2.64% of Cincinnati Financial worth $671,265,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CINF. Raymond James Financial Inc. boosted its stake in Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock valued at $119,682,000 after purchasing an additional 262,715 shares during the last quarter. Korea Investment CORP boosted its stake in Cincinnati Financial by 210.0% during the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider's stock valued at $46,548,000 after purchasing an additional 199,437 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Cincinnati Financial during the 4th quarter valued at about $32,692,000. Goldman Sachs Group Inc. boosted its stake in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock valued at $83,889,000 after purchasing an additional 173,343 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Cincinnati Financial by 3,892.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 145,890 shares of the insurance provider's stock valued at $23,065,000 after purchasing an additional 142,236 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $157.42 on Friday. Cincinnati Financial Corporation has a 12 month low of $143.37 and a 12 month high of $174.27. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. The business's 50 day simple moving average is $162.59 and its 200 day simple moving average is $163.62. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 3.42 and a beta of 0.59.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the business earned ($0.24) earnings per share. Cincinnati Financial's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler lifted their price target on Cincinnati Financial from $161.00 to $175.00 and gave the company a "neutral" rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $190.00 to $191.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Roth Mkm boosted their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded Cincinnati Financial from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Finally, Bank of America cut their target price on Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Cincinnati Financial presently has an average rating of "Buy" and a consensus price target of $183.25.

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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