Resona Asset Management Co. Ltd. purchased a new stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 57,170 shares of the insurance provider's stock, valued at approximately $8,222,000.
A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Cincinnati Financial by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider's stock valued at $2,754,399,000 after purchasing an additional 173,417 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cincinnati Financial by 3.9% during 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 grew its position in Cincinnati Financial by 5.0% in the fourth 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 in the last quarter. Norges Bank bought a new position in Cincinnati Financial in the fourth quarter valued at $223,959,000. Finally, Johnson Investment Counsel Inc. raised its position in Cincinnati Financial by 0.7% during 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 in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
Cincinnati Financial Trading Down 0.4 %
CINF stock traded down $0.51 during trading on Friday, hitting $131.09. 841,985 shares of the company traded hands, compared to its average volume of 675,601. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The company has a 50-day moving average of $140.02 and a 200-day moving average of $142.76. The firm has a market capitalization of $20.52 billion, a PE ratio of 9.03, a P/E/G ratio of 8.30 and a beta of 0.53. 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 released its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Analysts predict 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. Stockholders of record on Monday, March 24th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.65%. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial's dividend payout ratio is 23.97%.
Analyst Ratings Changes
A number of research firms have recently issued reports on CINF. Roth Mkm upped their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. StockNews.com lowered Cincinnati Financial from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $147.40.
View Our Latest Stock Report on Cincinnati Financial
About Cincinnati Financial
(
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.
Featured Articles
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
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
