Mediolanum International Funds Ltd bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,501 shares of the insurance provider's stock, valued at approximately $1,642,000.
A number of other hedge funds have also made changes to their positions in CINF. Robeco Institutional Asset Management B.V. grew its holdings in shares of Cincinnati Financial by 92.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 116,579 shares of the insurance provider's stock valued at $16,752,000 after acquiring an additional 56,005 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Cincinnati Financial by 33.5% during the 4th quarter. Pacer Advisors Inc. now owns 18,919 shares of the insurance provider's stock valued at $2,719,000 after buying an additional 4,750 shares during the last quarter. KBC Group NV grew its stake in shares of Cincinnati Financial by 19.2% in the 4th quarter. KBC Group NV now owns 37,817 shares of the insurance provider's stock valued at $5,434,000 after buying an additional 6,096 shares in the last quarter. Blue Trust Inc. raised its position in Cincinnati Financial by 5.1% during the fourth quarter. Blue Trust Inc. now owns 11,039 shares of the insurance provider's stock valued at $1,503,000 after acquiring an additional 540 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its stake in Cincinnati Financial by 25.0% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 352,458 shares of the insurance provider's stock valued at $50,652,000 after acquiring an additional 70,408 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.
Cincinnati Financial Stock Performance
Shares of NASDAQ CINF traded up $1.14 during mid-day trading on Thursday, hitting $137.91. The company had a trading volume of 764,576 shares, compared to its average volume of 705,457. Cincinnati Financial Co. has a 12 month low of $104.78 and a 12 month high of $161.74. The firm has a market cap of $21.56 billion, a P/E ratio of 7.09, a PEG ratio of 2.41 and a beta of 0.71. The business's 50-day simple moving average is $144.61 and its 200-day simple moving average is $139.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31.
Cincinnati Financial Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.87 dividend. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial's dividend payout ratio (DPR) is 16.65%.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Finally, Piper Sandler upped their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average price target of $143.33.
Get Our Latest Analysis on CINF
Insiders Place Their Bets
In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the purchase, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.83% of the company's stock.
About Cincinnati Financial
(
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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