Vanguard Group Inc. Grows Position in Cincinnati Financial Corporation $CINF

Key Points

• Vanguard increased its stake by 0.6% to 19.73 million shares (about a 12.64% ownership) worth roughly $3.22 billion at quarter-end, and overall institutional investors own about 65.24% of Cincinnati Financial.
• Earnings beat: Cincinnati reported $2.10 EPS versus $1.93 expected and revenue of $2.86 billion (up 11.6% year-over-year), with a net margin of 21.33% and return on equity of 10.66%.
• The company raised its quarterly dividend to $0.94 (annualized $3.76, yield ~2.3%, DPR 24.8%), while the stock trades near $165 with a P/E of 9.43 and a consensus analyst rating of "Buy" with a $178.50 price target.

Vanguard Group Inc. increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,725,564 shares of the insurance provider's stock after purchasing an additional 123,110 shares during the period. Vanguard Group Inc. owned approximately 12.64% of Cincinnati Financial worth $3,221,579,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. lifted its holdings in Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock valued at $119,682,000 after buying an additional 262,715 shares in the last quarter. Korea Investment CORP lifted its holdings in Cincinnati Financial by 210.0% during the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider's stock valued at $46,548,000 after buying an additional 199,437 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock valued at $83,889,000 after buying an additional 173,343 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Cincinnati Financial by 3,892.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 145,890 shares of the insurance provider's stock valued at $23,065,000 after buying an additional 142,236 shares in the last quarter. Finally, Danske Bank A S bought a new stake in Cincinnati Financial during the 3rd quarter valued at about $22,243,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Trading Down 0.4%

NASDAQ:CINF opened at $164.96 on Wednesday. Cincinnati Financial Corporation has a one year low of $135.86 and a one year high of $174.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $25.68 billion, a P/E ratio of 9.43, a P/E/G ratio of 4.37 and a beta of 0.63. The firm has a 50-day simple moving average of $162.67 and a 200-day simple moving average of $162.48.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping the consensus estimate of $1.93 by $0.17. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.60 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.66%. Cincinnati Financial's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) EPS. Equities analysts anticipate that Cincinnati Financial Corporation will post 8.39 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th were paid a dividend of $0.94 per share. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.87. The ex-dividend date was Tuesday, March 24th. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial's dividend payout ratio (DPR) is presently 24.79%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CINF. 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. Wall Street Zen lowered shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods reduced their price target on shares of Cincinnati Financial from $191.00 to $190.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Bank of America reduced their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $178.50.

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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