Arrowstreet Capital Limited Partnership Purchases 396,086 Shares of Cincinnati Financial Corporation $CINF

Arrowstreet Capital Limited Partnership increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 193.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 601,033 shares of the insurance provider’s stock after purchasing an additional 396,086 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Cincinnati Financial were worth $98,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CINF. Norges Bank bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at approximately $270,892,000. First Trust Advisors LP boosted its stake in Cincinnati Financial by 38.5% in the 4th quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock valued at $215,562,000 after buying an additional 367,224 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Cincinnati Financial by 48.6% in 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 boosted its stake in Cincinnati Financial by 210.0% in 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. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Cincinnati Financial in the 4th quarter valued at $32,692,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on CINF shares. Piper Sandler boosted their price target on Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Bank of America reduced their price objective on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings lowered Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. Finally, Roth Mkm boosted their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average target price of $183.25.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $169.34 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $26.20 billion, a P/E ratio of 9.68, a P/E/G ratio of 3.67 and a beta of 0.57. The business’s fifty day moving average is $163.93 and its two-hundred day moving average is $163.49. Cincinnati Financial Corporation has a 52 week low of $143.37 and a 52 week high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) earnings per share. Equities research analysts forecast that Cincinnati Financial Corporation will post 8.61 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s payout ratio is presently 21.50%.

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.