iA Global Asset Management Inc. Invests $647,000 in Cincinnati Financial Co. (NASDAQ:CINF)

iA Global Asset Management Inc. acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,504 shares of the insurance provider’s stock, valued at approximately $647,000.

A number of other large investors also recently modified their holdings of CINF. Caisse DE Depot ET Placement DU Quebec boosted its stake 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 worth $52,531,000 after buying an additional 329,435 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider’s stock valued at $863,099,000 after purchasing an additional 224,033 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Cincinnati Financial by 49.5% in 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 holdings in shares of Cincinnati Financial by 3,381.8% in 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, Victory Capital Management Inc. raised its holdings in shares of Cincinnati Financial by 73.8% in the 4th quarter. Victory Capital Management Inc. now owns 310,079 shares of the insurance provider’s stock valued at $44,558,000 after purchasing an additional 131,625 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Cincinnati Financial Stock Down 0.4 %

Cincinnati Financial stock opened at $145.62 on Friday. The stock has a market cap of $22.80 billion, a P/E ratio of 10.03, a P/E/G ratio of 8.30 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.75. The company’s 50-day moving average price is $139.96 and its two-hundred day moving average price is $142.41.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating the consensus estimate 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, analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.87 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s dividend payout ratio is currently 23.97%.

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.