Korea Investment CORP Acquires Shares of 139,266 Cincinnati Financial Corporation $CINF

Key Points

• Korea Investment CORP acquired 139,266 shares of Cincinnati Financial in the second quarter, valued at approximately $25.8 million and representing about 0.09% of the company. Institutional investors collectively own 65.24% of Cincinnati Financial.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $195.40, despite mixed individual revisions.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 consensus estimate, while announcing a quarterly dividend of $0.94 per share, equivalent to a 2.2% annualized yield.

Korea Investment CORP acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 139,266 shares of the insurance provider's stock, valued at approximately $25,784,000. Korea Investment CORP owned approximately 0.09% of Cincinnati Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised 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 buying an additional 25,888 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Cincinnati Financial during the 4th quarter worth approximately $1,231,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Cincinnati Financial in the 1st quarter worth approximately $12,002,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Cincinnati Financial by 3.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 359,259 shares of the insurance provider's stock worth $58,017,000 after acquiring an additional 10,483 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Cincinnati Financial by 22.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 17,574 shares of the insurance provider's stock valued at $2,870,000 after acquiring an additional 3,216 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Bank of America cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Friday. Finally, Piper Sandler lifted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $195.40.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $168.29 on Monday. The company has a market cap of $25.83 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 3.52 and a beta of 0.55. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The stock's 50 day simple moving average is $177.96 and its 200 day simple moving average is $168.58.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the prior year, the firm earned $1.97 EPS. Equities research analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio (DPR) is presently 17.74%.

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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