Cincinnati Financial Co. (NASDAQ:CINF) Stock Holdings Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 18.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,274 shares of the insurance provider’s stock after purchasing an additional 4,957 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cincinnati Financial were worth $3,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Cincinnati Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock worth $2,453,379,000 after buying an additional 211,402 shares in the last quarter. State Street Corp grew its holdings in Cincinnati Financial by 4.1% in the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after buying an additional 360,552 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cincinnati Financial by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 3,343,865 shares of the insurance provider’s stock worth $373,978,000 after buying an additional 67,706 shares in the last quarter. Bank of America Corp DE grew its holdings in Cincinnati Financial by 1.4% in the 1st quarter. Bank of America Corp DE now owns 3,037,811 shares of the insurance provider’s stock worth $340,478,000 after buying an additional 42,128 shares in the last quarter. Finally, London Co. of Virginia grew its holdings in Cincinnati Financial by 7.8% in the 3rd quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock worth $283,658,000 after buying an additional 200,414 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Citigroup upped their target price on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Piper Sandler restated a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial has an average rating of “Hold” and a consensus price target of $123.57.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $115.30 on Thursday. Cincinnati Financial Co. has a one year low of $95.01 and a one year high of $124.35. The stock has a fifty day moving average of $116.58 and a 200-day moving average of $108.28. The company has a market capitalization of $18.06 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 6.2 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, March 18th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s dividend payout ratio is 27.76%.

Cincinnati Financial Profile

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.