Allspring Global Investments Holdings LLC Has $2.49 Million Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Allspring Global Investments Holdings LLC grew its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 25.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,086 shares of the insurance provider’s stock after purchasing an additional 4,024 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cincinnati Financial were worth $2,494,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CINF. Assetmark Inc. increased its position in shares of Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 174 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $31,000. Raleigh Capital Management Inc. bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $31,000. Finally, Integrated Investment Consultants LLC bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $118.85 on Wednesday. The stock has a fifty day moving average price of $116.44 and a 200-day moving average price of $114.02. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 2.54 and a beta of 0.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26. Cincinnati Financial Co. has a fifty-two week low of $95.81 and a fifty-two week high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 EPS. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 6.32 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be given a dividend of $0.81 per share. The ex-dividend date is Tuesday, June 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.73%. Cincinnati Financial’s payout ratio is 21.56%.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $113.47 per share, with a total value of $113,470.00. Following the acquisition, the director now owns 53,988 shares of the company’s stock, valued at $6,126,018.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Piper Sandler reiterated a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. Finally, BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $127.80.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.