Canada Pension Plan Investment Board Invests $10.42 Million in Cincinnati Financial Corporation $CINF

Canada Pension Plan Investment Board acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 56,300 shares of the insurance provider’s stock, valued at approximately $10,423,000.

Several other institutional investors have also added to or reduced their stakes in CINF. State Street Corp boosted its position in Cincinnati Financial by 0.3% during the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock worth $1,357,825,000 after purchasing an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Cincinnati Financial by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after purchasing an additional 97,761 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after purchasing an additional 25,888 shares during the period. First Trust Advisors LP raised its position in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after purchasing an additional 784,584 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Cincinnati Financial by 4.2% during the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock valued at $299,553,000 after buying an additional 80,487 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.94% of the company’s stock.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $171.97 on Friday. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $26.39 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 3.60 and a beta of 0.54. The firm’s 50 day simple moving average is $178.09 and its 200 day simple moving average is $168.68.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period in the previous year, the business earned $1.97 earnings per share. As a group, analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 17.74%.

Wall Street Analysts Forecast Growth

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

Cincinnati Financial Company 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.