Hsbc Holdings PLC Invests $99.69 Million in Cincinnati Financial Corporation $CINF

Hsbc Holdings PLC purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) in the second quarter, HoldingsChannel reports. The firm purchased 537,417 shares of the insurance provider’s stock, valued at approximately $99,691,000.

A number of other hedge funds have also modified their holdings of the company. Keating Financial Advisory Services Inc. acquired a new position in Cincinnati Financial during the second quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new stake in Cincinnati Financial in the fourth quarter valued at approximately $29,000. Covestor Ltd increased its stake in Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial in the first quarter worth $34,000. Finally, DV Equities LLC acquired a new stake in Cincinnati Financial in the fourth quarter worth $36,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CINF has been the subject of several research analyst reports. Piper Sandler boosted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research note on Wednesday, July 15th. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, August 21st. Finally, Roth Capital increased their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Trading Up 0.6%

CINF opened at $172.38 on Thursday. The stock has a market capitalization of $26.46 billion, a P/E ratio of 8.13, a P/E/G ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The firm’s fifty day simple moving average is $178.01 and its 200 day simple moving average is $168.65. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

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

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is currently 17.74%.

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.