Principal Financial Group Inc. Buys 5,717 Shares of Cincinnati Financial Corporation $CINF

Principal Financial Group Inc. increased its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.3% in the second quarter, Holdings Channel.com reports. The firm owned 181,074 shares of the insurance provider’s stock after purchasing an additional 5,717 shares during the quarter. Principal Financial Group Inc.’s holdings in Cincinnati Financial were worth $33,524,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Cincinnati Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider’s stock valued at $3,221,579,000 after purchasing an additional 123,110 shares during the period. State Street Corp boosted its position in shares of 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 buying an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Cincinnati Financial by 1.5% during 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 buying an additional 97,761 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cincinnati Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after buying an additional 25,888 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Cincinnati Financial by 59.4% during the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after buying an additional 784,584 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 0.3%

Cincinnati Financial stock opened at $173.17 on Friday. Cincinnati Financial Corporation has a 52 week low of $149.60 and a 52 week high of $194.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $26.58 billion, a P/E ratio of 8.17, a PEG ratio of 3.61 and a beta of 0.54. The stock has a 50-day simple moving average of $177.61 and a 200 day simple moving average of $168.16.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CINF. Piper Sandler lifted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Roth Capital upped their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Keefe, Bruyette & Woods lowered their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $195.40.

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.