Asset Management One Co. Ltd. Trims Position in Cincinnati Financial Co. (NASDAQ:CINF)

Asset Management One Co. Ltd. trimmed its holdings in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 60,197 shares of the insurance provider's stock after selling 2,109 shares during the period. Asset Management One Co. Ltd.'s holdings in Cincinnati Financial were worth $8,671,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Cincinnati Financial during the third quarter worth $174,000. Creative Planning lifted its stake in shares of Cincinnati Financial by 167.2% in the 3rd quarter. Creative Planning now owns 143,869 shares of the insurance provider's stock worth $19,583,000 after acquiring an additional 90,021 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Cincinnati Financial by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,314 shares of the insurance provider's stock valued at $2,221,000 after acquiring an additional 256 shares in the last quarter. Raymond James & Associates increased its stake in shares of Cincinnati Financial by 20.0% during the third quarter. Raymond James & Associates now owns 61,228 shares of the insurance provider's stock worth $8,334,000 after acquiring an additional 10,208 shares during the period. Finally, Cyndeo Wealth Partners LLC purchased a new position in Cincinnati Financial during the third quarter worth about $246,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

NASDAQ CINF traded down $0.63 during mid-day trading on Friday, hitting $135.14. The stock had a trading volume of 468,571 shares, compared to its average volume of 748,076. The company has a 50 day simple moving average of $140.46 and a 200 day simple moving average of $140.64. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 8.35 and a beta of 0.71. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share 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%. Equities analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a $0.87 dividend. The ex-dividend date is Monday, March 24th. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.58%. Cincinnati Financial's dividend payout ratio is currently 22.31%.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the acquisition, the director now owns 54,500 shares in the company, valued at $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Roth Mkm increased their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Piper Sandler increased their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $180.00 to $182.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.