Allstate Corp Acquires Shares of 4,880 Cincinnati Financial Co. (NASDAQ:CINF)

Allstate Corp bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,880 shares of the insurance provider's stock, valued at approximately $701,000.

Several other large investors also recently added to or reduced their stakes in CINF. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cincinnati Financial in the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in Cincinnati Financial during the third quarter worth $28,000. Y.D. More Investments Ltd lifted its stake in shares of Cincinnati Financial by 121.8% in the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 106 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Cincinnati Financial in the 3rd quarter valued at $42,000. Finally, Quarry LP purchased a new position in shares of Cincinnati Financial during the 3rd quarter worth $43,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Roth Mkm boosted their price target on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $154.20.

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Cincinnati Financial Trading Down 9.0 %

Cincinnati Financial stock traded down $13.01 during midday trading on Friday, reaching $131.69. 1,338,996 shares of the stock traded hands, compared to its average volume of 664,807. The firm has a market cap of $20.62 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $141.11 and a two-hundred day simple moving average of $143.01. Cincinnati Financial Co. has a 12-month low of $109.93 and a 12-month high of $161.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. Research analysts expect that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.87 dividend. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial's dividend payout ratio (DPR) is presently 23.97%.

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.