Nomura Asset Management Co. Ltd. Raises Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Nomura Asset Management Co. Ltd. lifted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 341,425 shares of the insurance provider's stock after acquiring an additional 18,068 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.22% of Cincinnati Financial worth $46,475,000 at the end of the most recent quarter.

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

Cincinnati Financial Price Performance

CINF traded down $3.82 during trading on Tuesday, reaching $149.83. The stock had a trading volume of 975,243 shares, compared to its average volume of 685,275. The business has a 50-day moving average of $146.10 and a 200-day moving average of $132.64. Cincinnati Financial Co. has a one year low of $100.31 and a one year high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $23.42 billion, a PE ratio of 7.70, a PEG ratio of 2.98 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company posted $1.66 earnings per share. Cincinnati Financial's revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial's dividend payout ratio (DPR) is presently 16.65%.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the acquisition, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. The trade was a 1.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.83% of the company's stock.

Analyst Ratings Changes

CINF has been the topic of several recent analyst reports. Piper Sandler increased their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Finally, 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 research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $138.57.

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.