Meiji Yasuda Asset Management Co Ltd. Acquires 9,768 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 261.2% in the second quarter, HoldingsChannel.com reports. The fund owned 13,508 shares of the insurance provider’s stock after acquiring an additional 9,768 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cincinnati Financial were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Principal Securities Inc. bought a new stake in shares of Cincinnati Financial during the 4th quarter worth $55,000. Robeco Institutional Asset Management B.V. raised its position in Cincinnati Financial by 95.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 47,999 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 23,477 shares during the period. Norges Bank purchased a new position in Cincinnati Financial in the fourth quarter valued at about $179,305,000. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Cincinnati Financial by 75.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,710 shares of the insurance provider’s stock valued at $280,000 after acquiring an additional 1,167 shares during the period. Finally, UBS Group AG increased its stake in shares of Cincinnati Financial by 15.4% during the 4th quarter. UBS Group AG now owns 349,153 shares of the insurance provider’s stock worth $36,123,000 after purchasing an additional 46,595 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CINF. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America cut their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Roth Mkm increased their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.57.

Cincinnati Financial Trading Down 0.4 %

Shares of Cincinnati Financial stock opened at $135.77 on Friday. The company’s 50-day moving average price is $130.41 and its 200-day moving average price is $122.04. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 12-month low of $96.86 and a 12-month high of $139.34. The company has a market cap of $21.26 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.60 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.33. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. On average, equities analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is 21.56%.

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.