Johnson Financial Group Inc. Takes Position in Cincinnati Financial Corporation $CINF

Johnson Financial Group Inc. acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,500 shares of the insurance provider’s stock, valued at approximately $837,000.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Cincinnati Financial by 0.6% in the 4th 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. Eurizon Capital SGR S.p.A. bought a new stake in Cincinnati Financial in the 4th quarter worth about $1,231,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Cincinnati Financial during the first quarter valued at approximately $12,002,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Cincinnati Financial by 3.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 359,259 shares of the insurance provider’s stock valued at $58,017,000 after purchasing an additional 10,483 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Cincinnati Financial by 22.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,574 shares of the insurance provider’s stock worth $2,870,000 after buying an additional 3,216 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Roth Capital boosted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 6th. Finally, 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 report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.40.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $168.49 on Thursday. The company’s fifty day moving average price is $177.98 and its 200-day moving average price is $168.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the firm posted $1.97 earnings per share. On average, equities research analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

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.