CANADA LIFE ASSURANCE Co Boosts Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

CANADA LIFE ASSURANCE Co boosted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,041 shares of the insurance provider's stock after acquiring an additional 13,107 shares during the period. CANADA LIFE ASSURANCE Co owned 0.09% of Cincinnati Financial worth $21,264,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $223,959,000. Charles Schwab Investment Management Inc. raised its stake in Cincinnati Financial by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock valued at $863,099,000 after buying an additional 224,033 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cincinnati Financial by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider's stock worth $563,323,000 after acquiring an additional 185,705 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cincinnati Financial by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider's stock worth $2,754,399,000 after acquiring an additional 173,417 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Cincinnati Financial by 33.5% during the fourth quarter. California Public Employees Retirement System now owns 668,341 shares of the insurance provider's stock valued at $96,041,000 after acquiring an additional 167,898 shares in the last quarter. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

Cincinnati Financial stock traded up $1.10 during midday trading on Wednesday, reaching $134.05. 735,084 shares of the company traded hands, compared to its average volume of 671,330. 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 12 month low of $109.93 and a 12 month high of $161.75. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 8.30 and a beta of 0.53. The business has a 50 day moving average of $139.35 and a two-hundred day moving average of $142.49.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping the consensus estimate 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, research analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 24th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.60%. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.81. The ex-dividend date was Monday, March 24th. Cincinnati Financial's payout ratio is 23.97%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. StockNews.com raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Roth Mkm upped their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $147.40.

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.