PGGM Investments increased its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 96.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,695 shares of the insurance provider's stock after purchasing an additional 7,724 shares during the period. PGGM Investments' holdings in Cincinnati Financial were worth $2,255,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cincinnati Financial in the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new position in Cincinnati Financial in the third quarter valued at approximately $28,000. Y.D. More Investments Ltd boosted its stake in Cincinnati Financial by 121.8% in the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 106 shares during the period. True Wealth Design LLC acquired a new position in Cincinnati Financial in the third quarter valued at approximately $42,000. Finally, Quarry LP acquired a new position in Cincinnati Financial in the third quarter valued at approximately $43,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $180.00 to $182.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Roth Mkm lifted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and a consensus target price of $151.00.
Check Out Our Latest Research Report on CINF
Cincinnati Financial Stock Performance
Shares of NASDAQ CINF traded down $1.34 during midday trading on Tuesday, hitting $145.88. 1,156,569 shares of the company's stock were exchanged, compared to its average volume of 602,652. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The stock's 50 day moving average price is $139.47 and its 200-day moving average price is $142.18. The firm has a market cap of $22.83 billion, a P/E ratio of 10.05, a PEG ratio of 8.30 and a beta of 0.66. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.75.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, February 10th. The insurance provider reported $3.14 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%. Equities research analysts anticipate that Cincinnati Financial Co. will post 5.36 EPS for the current year.
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 issued a dividend of $0.87 per share. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. This represents a $3.48 annualized dividend and a yield of 2.39%. Cincinnati Financial's payout ratio is presently 23.97%.
Cincinnati Financial Company Profile
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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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