1,558,520 Shares in Cincinnati Financial Co. (NASDAQ:CINF) Acquired by Norges Bank

Norges Bank acquired a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,558,520 shares of the insurance provider's stock, valued at approximately $223,959,000. Norges Bank owned about 1.00% of Cincinnati Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CINF. Simon Quick Advisors LLC raised its stake in shares of Cincinnati Financial by 5.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,562 shares of the insurance provider's stock valued at $224,000 after purchasing an additional 74 shares during the period. Park Avenue Securities LLC boosted its position in Cincinnati Financial by 0.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,473 shares of the insurance provider's stock valued at $2,511,000 after purchasing an additional 78 shares during the period. Tidal Investments LLC boosted its holdings in shares of Cincinnati Financial by 1.4% during the third quarter. Tidal Investments LLC now owns 5,819 shares of the insurance provider's stock valued at $792,000 after acquiring an additional 80 shares during the period. Weaver Capital Management LLC raised its stake in Cincinnati Financial by 2.0% during the 4th quarter. Weaver Capital Management LLC now owns 4,167 shares of the insurance provider's stock valued at $599,000 after acquiring an additional 81 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its stake in shares of Cincinnati Financial by 0.6% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 14,942 shares of the insurance provider's stock worth $2,147,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

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Cincinnati Financial Stock Down 1.8 %

Shares of CINF traded down $2.72 during trading hours on Thursday, reaching $144.87. The company's stock had a trading volume of 315,549 shares, compared to its average volume of 657,119. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a market cap of $22.68 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 8.30 and a beta of 0.66. The company has a 50 day moving average of $141.05 and a two-hundred day moving average of $142.99. Cincinnati Financial Co. has a 1-year low of $109.93 and a 1-year high of $161.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. As a group, research analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.40%. Cincinnati Financial's payout ratio is 23.97%.

Analysts Set New Price Targets

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

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.