New York Life Investment Management LLC Has $3.32 Million Stake in Cincinnati Financial Co. (NASDAQ:CINF)

New York Life Investment Management LLC boosted its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,117 shares of the insurance provider’s stock after buying an additional 2,383 shares during the period. New York Life Investment Management LLC’s holdings in Cincinnati Financial were worth $3,322,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Oak Thistle LLC grew its holdings in Cincinnati Financial by 177.8% during the 4th quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after acquiring an additional 5,485 shares during the period. World Investment Advisors LLC acquired a new stake in Cincinnati Financial during the 3rd quarter worth about $546,000. JPMorgan Chase & Co. grew its holdings in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after acquiring an additional 147,542 shares during the period. Principal Financial Group Inc. grew its holdings in Cincinnati Financial by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock worth $26,019,000 after acquiring an additional 5,097 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc grew its holdings in Cincinnati Financial by 25.0% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 352,458 shares of the insurance provider’s stock worth $50,652,000 after acquiring an additional 70,408 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Up 2.3 %

Cincinnati Financial stock opened at $147.81 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $139.71 and its two-hundred day moving average price is $141.31. The firm has a market capitalization of $23.10 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 8.30 and a beta of 0.71. Cincinnati Financial Co. has a 1-year low of $109.93 and a 1-year high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. On average, equities research analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.87 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s dividend payout ratio is presently 23.97%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CINF shares. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Roth Mkm raised their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the acquisition, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.83% of the company’s stock.

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.