Principal Financial Group Inc. Raises Position in Cincinnati Financial Co. (NASDAQ:CINF)

Principal Financial Group Inc. grew its position in Cincinnati Financial Co. (NASDAQ:CINF) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,149 shares of the insurance provider’s stock after acquiring an additional 5,097 shares during the period. Principal Financial Group Inc. owned about 0.12% of Cincinnati Financial worth $26,019,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Cincinnati Financial by 4.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock valued at $23,367,000 after purchasing an additional 7,709 shares during the period. Vest Financial LLC lifted its stake in shares of Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock valued at $44,726,000 after purchasing an additional 46,530 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock valued at $14,016,000 after purchasing an additional 56,686 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Cincinnati Financial by 165.4% in the first quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider’s stock valued at $968,000 after purchasing an additional 4,856 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Cincinnati Financial by 330.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 11,440 shares of the insurance provider’s stock valued at $1,421,000 after purchasing an additional 8,784 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Bank of America lifted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Roth Mkm lifted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $151.18 on Wednesday. The firm has a 50 day simple moving average of $138.43 and a 200-day simple moving average of $127.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $23.63 billion, a PE ratio of 7.77, a P/E/G ratio of 2.82 and a beta of 0.65. Cincinnati Financial Co. has a 1-year low of $99.01 and a 1-year high of $152.30.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 EPS. On average, equities analysts expect that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.14%. Cincinnati Financial’s payout ratio is 16.65%.

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.