Bank of New York Mellon Corp Acquires 27,301 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Bank of New York Mellon Corp raised its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,030,017 shares of the insurance provider's stock after purchasing an additional 27,301 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Cincinnati Financial worth $148,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CINF. Nisa Investment Advisors LLC lifted its position in shares of Cincinnati Financial by 8.3% during the third quarter. Nisa Investment Advisors LLC now owns 46,738 shares of the insurance provider's stock valued at $6,400,000 after purchasing an additional 3,600 shares in the last quarter. abrdn plc boosted its stake in Cincinnati Financial by 10.6% in the third quarter. abrdn plc now owns 68,308 shares of the insurance provider's stock valued at $9,274,000 after acquiring an additional 6,556 shares during the last quarter. Diversify Advisory Services LLC bought a new position in shares of Cincinnati Financial during the 3rd quarter valued at approximately $280,000. First Trust Direct Indexing L.P. increased its position in Cincinnati Financial by 8.4% in the third quarter. First Trust Direct Indexing L.P. now owns 3,744 shares of the insurance provider's stock worth $510,000 after buying an additional 291 shares during the last quarter. Finally, Cigna Investments Inc. New bought a new stake in Cincinnati Financial in the 3rd quarter valued at about $210,000. Institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CINF. 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 report on Thursday, February 13th. Roth Mkm raised their price target on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.00.

Cincinnati Financial Price Performance

NASDAQ:CINF traded down $2.11 during trading hours on Tuesday, hitting $145.38. The stock had a trading volume of 287,550 shares, compared to its average volume of 738,680. The company has a 50 day simple moving average of $139.80 and a two-hundred day simple moving average of $141.52. The firm has a market capitalization of $22.75 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 8.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. Cincinnati Financial Co. has a one year low of $109.93 and a one year high of $161.74.

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, beating 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%. Research analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend 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 2.39%. Cincinnati Financial's dividend payout ratio is 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.