Hsbc Holdings PLC Has $66.84 Million Stock Position in Cincinnati Financial Corporation $CINF

Key Points

• HSBC Holdings PLC increased its stake in Cincinnati Financial by 7.4% in the first quarter, adding 29,349 shares and bringing its total to 424,932 shares valued at about $66.8 million.
• Analysts remain cautiously positive on CINF, with a consensus rating of “Moderate Buy” and an average price target of $192.40 after several firms recently raised targets.
• The company posted solid quarterly results, beating EPS and revenue estimates, while also paying a $0.94 quarterly dividend that implies a 2.1% yield.

Hsbc Holdings PLC grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 424,932 shares of the insurance provider's stock after acquiring an additional 29,349 shares during the quarter. Hsbc Holdings PLC owned 0.27% of Cincinnati Financial worth $66,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CINF. Lodestone Wealth Management LLC acquired a new stake in Cincinnati Financial in the 4th quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $29,000. DV Equities LLC bought a new position in shares of Cincinnati Financial during the fourth quarter worth approximately $36,000. Legacy Wealth Managment LLC ID increased its holdings in shares of Cincinnati Financial by 78.8% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock worth $40,000 after purchasing an additional 108 shares during the period. Finally, SHP Wealth Management acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at approximately $44,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CINF has been the subject of several recent research reports. Weiss Ratings upgraded Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, June 26th. Piper Sandler lifted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a report on Wednesday. Finally, Roth Capital raised their price target on Cincinnati Financial from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Cincinnati Financial has a consensus rating of "Moderate Buy" and an average target price of $192.40.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $180.79 on Monday. 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 company has a market cap of $27.97 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 3.70 and a beta of 0.54. The company has a 50 day moving average of $171.96 and a 200-day moving average of $165.98. Cincinnati Financial Corporation has a 1-year low of $143.87 and a 1-year high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.61 billion. During the same period last year, the firm posted ($0.24) earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 8.76 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial's payout ratio 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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