Franklin Resources Inc. Increases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Franklin Resources Inc. increased its holdings in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 51.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,583 shares of the insurance provider's stock after acquiring an additional 36,650 shares during the period. Franklin Resources Inc. owned about 0.07% of Cincinnati Financial worth $14,863,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CINF. Brown Brothers Harriman & Co. increased its stake in shares of Cincinnati Financial by 2.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider's stock worth $460,000 after purchasing an additional 68 shares during the last quarter. Wealth Dimensions Group Ltd. raised its stake in shares of Cincinnati Financial by 0.9% in the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider's stock valued at $1,098,000 after buying an additional 75 shares during the period. UMB Bank n.a. lifted its position in shares of Cincinnati Financial by 7.4% during the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider's stock valued at $155,000 after buying an additional 79 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Cincinnati Financial by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider's stock valued at $761,000 after acquiring an additional 80 shares during the period. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock traded up $2.34 during trading on Friday, hitting $144.57. 2,881,063 shares of the stock traded hands, compared to its average volume of 694,402. The stock has a market cap of $22.60 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 2.89 and a beta of 0.69. 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 52 week low of $100.31 and a 52 week high of $161.74. The firm's fifty day moving average is $148.39 and its 200-day moving average is $134.54.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results 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 net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business earned $1.66 earnings per share. The firm's revenue was up 21.5% on a year-over-year basis. Research analysts expect that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.81 per share. The ex-dividend date is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.24%. Cincinnati Financial's dividend payout ratio (DPR) is currently 16.65%.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $157.19 per share, with a total value of $157,190.00. Following the completion of the purchase, the director now directly owns 54,500 shares of the company's stock, valued at $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CINF shares. Keefe, Bruyette & Woods upped their price target on shares of 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 raised their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Piper Sandler increased their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. One 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.33.

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.