Commonwealth Equity Services LLC boosted its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,091 shares of the insurance provider's stock after purchasing an additional 7,351 shares during the period. Commonwealth Equity Services LLC's holdings in Cincinnati Financial were worth $10,359,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Oak Thistle LLC lifted its stake in shares of Cincinnati Financial by 177.8% during the 4th quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider's stock valued at $1,232,000 after buying an additional 5,485 shares in the last quarter. World Investment Advisors LLC bought a new position in Cincinnati Financial during the 3rd quarter valued at about $546,000. JPMorgan Chase & Co. grew its holdings in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider's stock valued at $60,619,000 after purchasing an additional 147,542 shares during the last quarter. Principal Financial Group Inc. grew its stake in Cincinnati Financial by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider's stock worth $26,019,000 after acquiring an additional 5,097 shares in the last quarter. Finally, New York Life Investment Management LLC grew its stake in Cincinnati Financial by 11.5% in the 4th quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider's stock worth $3,322,000 after acquiring an additional 2,383 shares in the last quarter. Institutional investors own 65.24% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target 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 increased their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.00.
Check Out Our Latest Stock Report on Cincinnati Financial
Cincinnati Financial Trading Down 0.4 %
CINF stock traded down $0.60 during trading on Friday, reaching $145.62. 3,566,739 shares of the stock were exchanged, compared to its average volume of 608,008. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $139.96 and a 200-day moving average price of $142.41. Cincinnati Financial Co. has a 1 year low of $109.93 and a 1 year high of $161.75. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 8.30 and a beta of 0.66.
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 net margin of 20.22% and a return on equity of 9.01%. On average, research analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.
Cincinnati Financial Increases Dividend
The business 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. This represents a $3.48 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, March 24th. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.81. Cincinnati Financial's payout ratio is currently 23.97%.
Cincinnati Financial Profile
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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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