Hsbc Holdings PLC Has $64.74 Million Holdings in Cincinnati Financial Corporation $CINF

Key Points

• HSBC Holdings PLC increased its stake in Cincinnati Financial by 19.3% in the fourth quarter, ending with 395,583 shares valued at about $64.7 million.
• Analysts remain generally bullish on the stock, with a consensus rating of “Buy” and an average price target of $183.25, though individual targets range from neutral to strong buy.
• Cincinnati Financial reported solid earnings for the latest quarter, beating estimates with $2.10 EPS and $2.86 billion in revenue, while also announcing a quarterly dividend of $0.94 per share.

Hsbc Holdings PLC boosted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 395,583 shares of the insurance provider's stock after acquiring an additional 63,954 shares during the period. Hsbc Holdings PLC owned approximately 0.25% of Cincinnati Financial worth $64,737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its position in shares of Cincinnati Financial by 7.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 124,743 shares of the insurance provider's stock valued at $20,377,000 after purchasing an additional 8,326 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Cincinnati Financial by 7.7% in the fourth quarter. Corient Private Wealth LLC now owns 39,386 shares of the insurance provider's stock valued at $6,433,000 after buying an additional 2,829 shares during the period. SHP Wealth Management bought a new stake in shares of Cincinnati Financial during the fourth quarter worth $44,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cincinnati Financial by 1,187.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 631 shares of the insurance provider's stock worth $103,000 after acquiring an additional 582 shares during the period. Finally, Anchor Investment Management LLC lifted its position in Cincinnati Financial by 2,388.2% in the 4th quarter. Anchor Investment Management LLC now owns 17,069 shares of the insurance provider's stock valued at $2,788,000 after acquiring an additional 16,383 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CINF has been the topic of several recent research reports. 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, May 26th. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $190.00 to $191.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Weiss Ratings raised Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, June 26th. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Finally, Bank of America cut their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a research report 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 assigned a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of "Buy" and a consensus target price of $183.25.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $192.03 on Monday. Cincinnati Financial Corporation has a 52-week low of $143.87 and a 52-week high of $192.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $29.71 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 4.15 and a beta of 0.54. The company has a 50-day simple moving average of $168.51 and a 200 day simple moving average of $164.96.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the business earned ($0.24) earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Corporation will post 8.66 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared 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. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial's dividend payout ratio is 21.50%.

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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