OneAscent Financial Services LLC acquired a new stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,104 shares of the insurance provider's stock, valued at approximately $304,000.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Cincinnati Financial by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider's stock worth $2,754,399,000 after purchasing an additional 173,417 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cincinnati Financial by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock worth $863,099,000 after acquiring an additional 224,033 shares during the last quarter. Geode Capital Management LLC lifted its position in Cincinnati Financial by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider's stock worth $563,323,000 after acquiring an additional 185,705 shares during the period. Norges Bank purchased a new stake in Cincinnati Financial during the 4th quarter valued at about $223,959,000. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Cincinnati Financial by 0.7% in the fourth quarter. Johnson Investment Counsel Inc. now owns 1,332,689 shares of the insurance provider's stock valued at $191,507,000 after purchasing an additional 8,736 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on CINF shares. Keefe, Bruyette & Woods decreased their target price on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday. Roth Mkm increased their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, StockNews.com lowered shares of Cincinnati Financial from a "hold" rating to a "sell" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $147.40.
Check Out Our Latest Analysis on Cincinnati Financial
Cincinnati Financial Price Performance
CINF traded down $2.86 during midday trading on Thursday, hitting $131.77. 227,918 shares of the company traded hands, compared to its average volume of 670,952. The company has a market capitalization of $20.63 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 8.30 and a beta of 0.53. The business has a 50 day simple moving average of $140.22 and a two-hundred day simple moving average of $142.76. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.75.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. On average, equities analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.
Cincinnati Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.87 dividend. The ex-dividend date is Monday, March 24th. This represents a $3.48 dividend on an annualized basis and a yield of 2.64%. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.81. Cincinnati Financial's dividend payout ratio (DPR) is presently 23.97%.
Cincinnati Financial Profile
(
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.
See Also
Before you consider Cincinnati Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cincinnati Financial wasn't on the list.
While Cincinnati Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
