Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,006,254 shares of the insurance provider's stock after acquiring an additional 224,033 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.84% of Cincinnati Financial worth $863,099,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Cincinnati Financial by 583.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider's stock valued at $52,531,000 after acquiring an additional 329,435 shares during the period. JPMorgan Chase & Co. boosted its stake 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. SG Americas Securities LLC boosted its stake in Cincinnati Financial by 3,381.8% during the 4th quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider's stock worth $20,228,000 after purchasing an additional 136,725 shares during the period. Cibc World Market Inc. grew its position in Cincinnati Financial by 1,711.7% during the 4th quarter. Cibc World Market Inc. now owns 103,505 shares of the insurance provider's stock worth $14,874,000 after purchasing an additional 97,792 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Cincinnati Financial in the third quarter valued at $12,795,000. Hedge funds and other institutional investors own 65.24% of the company's stock.
Analyst Upgrades and Downgrades
CINF has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Roth Mkm lifted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.00.
Get Our Latest Analysis on Cincinnati Financial
Cincinnati Financial Stock Performance
NASDAQ CINF traded down $0.81 during trading hours on Friday, hitting $139.96. 654,688 shares of the stock were exchanged, compared to its average volume of 751,809. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The company has a market cap of $21.91 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 8.30 and a beta of 0.71. Cincinnati Financial Co. has a 12-month low of $109.93 and a 12-month high of $161.74. The stock has a 50-day moving average of $139.63 and a 200 day moving average of $141.61.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. As a group, equities research analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.
Cincinnati Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.49%. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial's payout ratio is 23.97%.
Cincinnati Financial Profile
(
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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