Korea Investment CORP Sells 5,784 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Korea Investment CORP cut its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,027 shares of the insurance provider's stock after selling 5,784 shares during the period. Korea Investment CORP owned about 0.06% of Cincinnati Financial worth $13,368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cincinnati Financial during the fourth quarter worth $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Cincinnati Financial during the 3rd quarter worth about $28,000. Y.D. More Investments Ltd lifted its holdings in Cincinnati Financial by 121.8% during the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 106 shares during the last quarter. True Wealth Design LLC acquired a new position in Cincinnati Financial in the third quarter valued at about $42,000. Finally, Quarry LP bought a new stake in Cincinnati Financial during the third quarter worth about $43,000. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock traded down $13.01 during midday trading on Friday, reaching $131.69. The company had a trading volume of 1,338,996 shares, compared to its average volume of 663,848. The stock has a fifty day simple moving average of $141.11 and a 200 day simple moving average of $142.97. Cincinnati Financial Co. has a 1-year low of $109.93 and a 1-year high of $161.75. 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 company has a market capitalization of $20.62 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66.

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Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its 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 return on equity of 9.01% and a net margin of 20.22%. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, March 24th. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.81. Cincinnati Financial's dividend payout ratio (DPR) is 23.97%.

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent analyst reports. Roth Mkm boosted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $154.20.

Cincinnati Financial Company 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.