Daiwa Securities Group Inc. Boosts Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Daiwa Securities Group Inc. raised its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,908 shares of the insurance provider’s stock after acquiring an additional 1,814 shares during the period. Daiwa Securities Group Inc.’s holdings in Cincinnati Financial were worth $1,750,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Opus Capital Group LLC grew its position in Cincinnati Financial by 64.3% during the fourth quarter. Opus Capital Group LLC now owns 3,990 shares of the insurance provider’s stock valued at $413,000 after acquiring an additional 1,562 shares during the period. Octavia Wealth Advisors LLC boosted its position in shares of Cincinnati Financial by 1.4% in the fourth quarter. Octavia Wealth Advisors LLC now owns 11,410 shares of the insurance provider’s stock worth $1,189,000 after buying an additional 152 shares during the period. Donaldson Capital Management LLC boosted its position in shares of Cincinnati Financial by 1.4% in the fourth quarter. Donaldson Capital Management LLC now owns 30,877 shares of the insurance provider’s stock worth $3,195,000 after buying an additional 428 shares during the period. CTC Alternative Strategies Ltd. purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth about $424,000. Finally, Sippican Capital Advisors boosted its position in shares of Cincinnati Financial by 9.7% in the fourth quarter. Sippican Capital Advisors now owns 2,270 shares of the insurance provider’s stock worth $235,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CINF shares. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. BMO Capital Markets raised 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, April 16th. Finally, TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $123.57.

Cincinnati Financial Trading Up 0.8 %

Shares of CINF opened at $120.96 on Tuesday. The stock has a 50-day moving average price of $117.20 and a 200 day moving average price of $108.73. Cincinnati Financial Co. has a one year low of $95.01 and a one year high of $124.35. The company has a market capitalization of $18.95 billion, a P/E ratio of 10.37, a P/E/G ratio of 2.42 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Cincinnati Financial’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were paid a dividend of $0.81 per share. The ex-dividend date was Monday, March 18th. This represents a $3.24 annualized dividend and a yield of 2.68%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s dividend payout ratio is presently 27.76%.

About Cincinnati Financial

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.