BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 347.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,706 shares of the insurance provider's stock after purchasing an additional 40,925 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Cincinnati Financial were worth $7,174,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. increased its holdings in shares of Cincinnati Financial by 7.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 12,754 shares of the insurance provider's stock valued at $1,736,000 after acquiring an additional 833 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cincinnati Financial during the 3rd quarter valued at about $456,000. Verity & Verity LLC increased its holdings in shares of Cincinnati Financial by 2.4% during the 3rd quarter. Verity & Verity LLC now owns 91,368 shares of the insurance provider's stock valued at $12,437,000 after acquiring an additional 2,121 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Cincinnati Financial by 328.0% during the 3rd quarter. Meeder Advisory Services Inc. now owns 12,111 shares of the insurance provider's stock valued at $1,649,000 after acquiring an additional 9,281 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Cincinnati Financial during the 3rd quarter valued at about $151,000. Institutional investors and hedge funds own 65.24% of the company's stock.
Cincinnati Financial Stock Performance
Shares of CINF stock traded up $2.95 during mid-day trading on Monday, reaching $159.42. The stock had a trading volume of 876,386 shares, compared to its average volume of 694,944. The firm's 50 day simple moving average is $141.71 and its 200 day simple moving average is $129.87. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a one year low of $99.92 and a one year high of $159.75. The firm has a market cap of $24.92 billion, a PE ratio of 8.19, a P/E/G ratio of 2.99 and a beta of 0.65.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $1.66 EPS. Cincinnati Financial's revenue was up 21.5% compared to the same quarter last year. On average, analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current year.
Cincinnati Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.03%. Cincinnati Financial's dividend payout ratio (DPR) is presently 16.65%.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.57.
Read Our Latest Stock Analysis on CINF
About Cincinnati Financial
(
Free Report)
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.
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