OMERS ADMINISTRATION Corp Invests $1.70 Million in Cincinnati Financial Corporation $CINF

Key Points

• OMERS Administration Corp. purchased 9,178 shares of Cincinnati Financial worth approximately $1.70 million during the second quarter. Institutional investors collectively own 65.24% of the insurer’s outstanding stock.
• Analysts maintain a generally positive outlook, with Cincinnati Financial receiving a consensus “Moderate Buy” rating and an average price target of $195.40, above its reported opening price of $172.38.
• Cincinnati Financial reported quarterly earnings of $1.43 per share, below the $1.82 consensus estimate, while announcing a quarterly dividend of $0.94 per share, equivalent to a 2.2% annualized yield.

OMERS ADMINISTRATION Corp purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,178 shares of the insurance provider's stock, valued at approximately $1,699,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Keating Financial Advisory Services Inc. acquired a new stake in Cincinnati Financial in the second quarter worth approximately $27,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial in the 4th quarter worth $29,000. Covestor Ltd lifted its holdings in shares of Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after buying an additional 83 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the first quarter valued at $34,000. Finally, DV Equities LLC bought a new position in Cincinnati Financial during the fourth quarter valued at about $36,000. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on CINF shares. Weiss Ratings cut shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Friday, August 21st. Bank of America cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Piper Sandler boosted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their target price on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a research note on Wednesday, August 5th. Finally, Roth Capital lifted their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Price Performance

CINF stock opened at $172.38 on Thursday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The firm has a market capitalization of $26.46 billion, a PE ratio of 8.13, a P/E/G ratio of 3.59 and a beta of 0.54. The firm has a 50-day moving average of $178.01 and a two-hundred day moving average of $168.65.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same period last year, the business earned $1.97 earnings per share. On average, analysts forecast that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

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

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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