SG Americas Securities LLC Raises Stock Holdings in Cincinnati Financial Corporation $CINF

Key Points

• SG Americas Securities LLC increased its stake in Cincinnati Financial by 443.5% in Q4 to 134,351 shares (about $21.94M), and institutional investors now own 65.24% of the company.
• Cincinnati Financial beat Q4 estimates with $3.37 EPS (vs. $2.86) and $3.09B revenue (up 21.8% YoY), and raised its quarterly dividend to $0.94 (annualized $3.76, ~2.4% yield).
• Analysts maintain a consensus "Moderate Buy" rating with a $174.33 target (three Buys, one Hold), and several firms have recently lifted price targets, including Keefe, Bruyette & Woods to $191.

SG Americas Securities LLC raised its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 443.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,351 shares of the insurance provider's stock after buying an additional 109,631 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Cincinnati Financial worth $21,942,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CINF. Norges Bank acquired a new stake in shares of Cincinnati Financial during the second quarter valued at about $235,714,000. Raymond James Financial Inc. lifted its holdings in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock worth $119,682,000 after acquiring an additional 262,715 shares during the last quarter. Amundi boosted its position in shares of Cincinnati Financial by 113.6% during the 2nd quarter. Amundi now owns 454,996 shares of the insurance provider's stock worth $66,479,000 after purchasing an additional 242,020 shares during the period. Korea Investment CORP boosted its position in shares of Cincinnati Financial by 210.0% during the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider's stock worth $46,548,000 after purchasing an additional 199,437 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Cincinnati Financial by 43.9% in 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. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

CINF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $180.00 to $191.00 and gave the company an "outperform" rating in a research report on Tuesday, January 6th. Wall Street Zen lowered Cincinnati Financial from a "buy" rating to a "hold" rating in a research report on Sunday, February 8th. Piper Sandler lifted their price objective on Cincinnati Financial from $150.00 to $157.00 and gave the company a "neutral" rating in a research note on Monday, December 22nd. Finally, Weiss Ratings downgraded Cincinnati Financial from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.33.

Cincinnati Financial Trading Up 1.4%

Shares of CINF stock opened at $157.55 on Friday. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The company has a 50 day moving average price of $162.95 and a 200 day moving average price of $161.65. The stock has a market capitalization of $24.53 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 3.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business earned $3.14 EPS. The firm's quarterly revenue was up 21.8% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be paid a $0.94 dividend. The ex-dividend date is Tuesday, March 24th. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a dividend yield of 2.4%. Cincinnati Financial's payout ratio is 24.79%.

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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