Allstate Corp Invests $701,000 in Cincinnati Financial Co. (NASDAQ:CINF)

Allstate Corp bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF) during the 4th quarter, Holdings Channel.com reports. The firm bought 4,880 shares of the insurance provider’s stock, valued at approximately $701,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CINF. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cincinnati Financial in the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC bought a new position in Cincinnati Financial during the third quarter worth $28,000. Y.D. More Investments Ltd lifted its holdings in Cincinnati Financial by 121.8% in the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after buying an additional 106 shares during the period. True Wealth Design LLC bought a new stake in Cincinnati Financial during the third quarter valued at $42,000. Finally, Quarry LP acquired a new stake in Cincinnati Financial during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the topic of a number of recent analyst reports. Roth Mkm upped their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average price target of $154.20.

Cincinnati Financial Price Performance

CINF stock opened at $147.72 on Tuesday. Cincinnati Financial Co. has a 1 year low of $109.93 and a 1 year high of $161.75. The stock has a market capitalization of $23.13 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. The company’s 50-day moving average is $140.71 and its 200-day moving average is $142.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 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%. Equities research analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Monday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s payout ratio is 23.97%.

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.