Mirae Asset Global Investments Co. Ltd. Has $15.92 Million Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Mirae Asset Global Investments Co. Ltd. grew its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 10.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,393 shares of the insurance provider's stock after purchasing an additional 11,282 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Cincinnati Financial worth $15,923,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Cincinnati Financial by 4.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider's stock valued at $23,367,000 after purchasing an additional 7,709 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Cincinnati Financial by 40.6% in the first quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider's stock valued at $20,904,000 after purchasing an additional 48,597 shares in the last quarter. Vest Financial LLC lifted its holdings in shares of Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider's stock valued at $44,726,000 after purchasing an additional 46,530 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cincinnati Financial by 77.3% in the first quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider's stock valued at $5,326,000 after purchasing an additional 18,704 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider's stock valued at $14,016,000 after purchasing an additional 56,686 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CINF has been the topic of several analyst reports. Bank of America upped their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $146.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Finally, Roth Mkm upped their target price on Cincinnati Financial from $130.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $136.29.

Cincinnati Financial Stock Performance

NASDAQ CINF traded up $3.01 during trading on Friday, reaching $141.25. 857,205 shares of the company's stock were exchanged, compared to its average volume of 708,543. The business has a 50 day moving average price of $136.06 and a 200-day moving average price of $125.29. The stock has a market capitalization of $22.11 billion, a P/E ratio of 9.40, a PEG ratio of 2.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $142.25.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. Cincinnati Financial's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial's dividend payout ratio (DPR) is presently 21.56%.

About Cincinnati Financial

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.