Advisors Asset Management Inc. Boosts Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Advisors Asset Management Inc. raised its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 7.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,754 shares of the insurance provider’s stock after buying an additional 833 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cincinnati Financial were worth $1,736,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vest Financial LLC lifted its position in Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock valued at $44,726,000 after acquiring an additional 46,530 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Cincinnati Financial by 91.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock valued at $14,016,000 after purchasing an additional 56,686 shares during the last quarter. Amalgamated Bank boosted its position in shares of Cincinnati Financial by 30.5% in the 2nd quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock valued at $4,976,000 after purchasing an additional 9,854 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Cincinnati Financial by 10.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock worth $15,923,000 after buying an additional 11,282 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Cincinnati Financial in the first quarter valued at approximately $788,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.0 %

Shares of Cincinnati Financial stock opened at $156.47 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The firm has a market cap of $24.46 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.65. Cincinnati Financial Co. has a 52-week low of $99.92 and a 52-week high of $156.87. The company’s 50-day simple moving average is $141.26 and its 200-day simple moving average is $129.58.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company posted $1.66 earnings per share. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.07%. Cincinnati Financial’s payout ratio is currently 16.65%.

Analysts Set New Price Targets

CINF has been the subject of several research reports. Piper Sandler upped their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Bank of America boosted their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

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.