Raymond James Financial Inc. Invests $11.80 Million in Cincinnati Financial Co. (NASDAQ:CINF)

Raymond James Financial Inc. purchased a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 82,110 shares of the insurance provider's stock, valued at approximately $11,799,000. Raymond James Financial Inc. owned 0.05% of Cincinnati Financial at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Cincinnati Financial by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock worth $863,099,000 after purchasing an additional 224,033 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Cincinnati Financial by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,030,017 shares of the insurance provider's stock worth $148,013,000 after acquiring an additional 27,301 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Cincinnati Financial by 2.3% in the 4th quarter. Boston Trust Walden Corp now owns 795,780 shares of the insurance provider's stock valued at $114,354,000 after acquiring an additional 18,192 shares during the period. Barclays PLC lifted its holdings in shares of Cincinnati Financial by 13.1% during the 3rd quarter. Barclays PLC now owns 534,361 shares of the insurance provider's stock valued at $72,736,000 after acquiring an additional 61,801 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider's stock worth $60,619,000 after purchasing an additional 147,542 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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Cincinnati Financial Stock Up 0.6 %

Shares of NASDAQ:CINF traded up $0.92 during trading on Monday, hitting $145.67. The company's stock had a trading volume of 600,212 shares, compared to its average volume of 607,977. The company has a market capitalization of $22.81 billion, a PE ratio of 10.03, a PEG ratio of 8.30 and a beta of 0.66. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The stock's 50-day moving average price is $139.96 and its two-hundred day moving average price is $142.43.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. As a group, sell-side analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, March 24th. Cincinnati Financial's dividend payout ratio (DPR) is currently 23.97%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CINF shares. Roth Mkm boosted their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $180.00 to $182.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.00.

Cincinnati Financial Profile

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.