Mackenzie Financial Corp Has $3.40 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Mackenzie Financial Corp raised its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 21.0% during the fourth quarter, HoldingsChannel reports. The firm owned 32,871 shares of the insurance provider’s stock after acquiring an additional 5,713 shares during the quarter. Mackenzie Financial Corp’s holdings in Cincinnati Financial were worth $3,401,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CINF. American Century Companies Inc. boosted its holdings in shares of Cincinnati Financial by 14.4% in the 1st quarter. American Century Companies Inc. now owns 12,234 shares of the insurance provider’s stock valued at $1,663,000 after purchasing an additional 1,536 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Cincinnati Financial in the 1st quarter valued at $779,000. Cibc World Market Inc. acquired a new stake in shares of Cincinnati Financial in the 1st quarter valued at $713,000. Blair William & Co. IL boosted its holdings in shares of Cincinnati Financial by 12.1% in the 1st quarter. Blair William & Co. IL now owns 3,319 shares of the insurance provider’s stock valued at $451,000 after purchasing an additional 357 shares in the last quarter. Finally, Aviva PLC boosted its holdings in shares of Cincinnati Financial by 56.5% in the 1st quarter. Aviva PLC now owns 92,169 shares of the insurance provider’s stock valued at $12,531,000 after purchasing an additional 33,270 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $119.95 on Monday. Cincinnati Financial Co. has a twelve month low of $95.01 and a twelve month high of $124.35. The stock’s 50 day moving average price is $116.99 and its 200-day moving average price is $108.60. The company has a market capitalization of $18.79 billion, a PE ratio of 10.28, a PEG ratio of 2.46 and a beta of 0.63. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.33. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. Cincinnati Financial’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. On average, equities analysts anticipate that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Monday, March 18th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is 27.76%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CINF. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Citigroup increased their price target on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Piper Sandler reiterated a “neutral” rating and issued a $116.00 price target on shares of Cincinnati Financial in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Hold” and an average price target of $123.57.

Cincinnati Financial Company 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.