Asset Management One Co. Ltd. Grows Position in Cincinnati Financial Co. (NASDAQ:CINF)

Asset Management One Co. Ltd. increased its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 3.7% during the third quarter, Holdings Channel reports. The institutional investor owned 62,306 shares of the insurance provider’s stock after buying an additional 2,223 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Cincinnati Financial were worth $8,481,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in shares of Cincinnati Financial by 7.4% during the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock worth $155,000 after buying an additional 79 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after buying an additional 80 shares during the period. Hartford Investment Management Co. increased its stake in shares of Cincinnati Financial by 0.8% during the third quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock worth $1,384,000 after buying an additional 80 shares during the period. Finally, iA Global Asset Management Inc. increased its stake in Cincinnati Financial by 4.3% in the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 95 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CINF has been the topic of several recent analyst reports. Roth Mkm increased their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America raised their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Piper Sandler raised their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $147.12 on Friday. Cincinnati Financial Co. has a 1-year low of $98.65 and a 1-year high of $150.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a fifty day moving average price of $137.68 and a 200 day moving average price of $126.62. The company has a market cap of $23.00 billion, a PE ratio of 7.56, a P/E/G ratio of 2.62 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business posted $1.66 EPS. Cincinnati Financial’s revenue was up 21.5% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

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.