NewEdge Wealth LLC Acquires 114 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

NewEdge Wealth LLC grew its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,971 shares of the insurance provider’s stock after acquiring an additional 114 shares during the period. NewEdge Wealth LLC’s holdings in Cincinnati Financial were worth $2,151,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Cincinnati Financial by 583.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock valued at $52,531,000 after purchasing an additional 329,435 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after purchasing an additional 147,542 shares during the period. SG Americas Securities LLC raised its position in shares of Cincinnati Financial by 3,381.8% during the 4th quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock valued at $20,228,000 after purchasing an additional 136,725 shares during the period. Finally, Cibc World Market Inc. raised its position in shares of Cincinnati Financial by 1,711.7% during the 4th quarter. Cibc World Market Inc. now owns 103,505 shares of the insurance provider’s stock valued at $14,874,000 after purchasing an additional 97,792 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, with a total value of $157,190.00. Following the purchase, the director now owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

CINF opened at $147.81 on Friday. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.74. The stock has a market capitalization of $23.10 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 8.30 and a beta of 0.71. The company has a fifty day moving average of $139.71 and a 200 day moving average of $141.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. As a group, sell-side analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.87 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 23.97%.

Wall Street Analyst Weigh In

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

Cincinnati Financial 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.