Geode Capital Management LLC Boosts Stock Holdings in Cincinnati Financial Corporation $CINF

Geode Capital Management LLC grew its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,125,979 shares of the insurance provider’s stock after acquiring an additional 25,888 shares during the period. Geode Capital Management LLC’s holdings in Cincinnati Financial were worth $671,265,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CINF. Bison Wealth LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after acquiring an additional 525 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Cincinnati Financial during the second quarter worth $101,000. Finally, Cerity Partners LLC lifted its position in shares of Cincinnati Financial by 10.8% during the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after acquiring an additional 4,674 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Down 1.6%

Shares of NASDAQ CINF opened at $157.42 on Friday. Cincinnati Financial Corporation has a 12 month low of $143.37 and a 12 month high of $174.27. 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 firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 3.42 and a beta of 0.59. The business has a 50-day moving average of $162.59 and a 200-day moving average of $163.62.

Cincinnati Financial (NASDAQ:CINF) last issued 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. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. Cincinnati Financial’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that Cincinnati Financial Corporation will post 8.61 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.4%. Cincinnati Financial’s payout ratio is presently 21.50%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CINF. Bank of America dropped their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Roth Mkm increased their target price 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 analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $183.25.

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.