Asset Management One Co. Ltd. Has $9.77 Million Stake in Cincinnati Financial Corporation $CINF

by · The Markets Daily

Asset Management One Co. Ltd. increased its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 0.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 65,580 shares of the insurance provider’s stock after purchasing an additional 224 shares during the period. Asset Management One Co. Ltd.’s holdings in Cincinnati Financial were worth $9,766,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quintet Private Bank Europe S.A. bought a new position in shares of Cincinnati Financial during the 2nd quarter valued at about $25,000. Spire Wealth Management grew its stake in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 76 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Cincinnati Financial in the first quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Cincinnati Financial in the first quarter valued at approximately $32,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Cincinnati Financial by 51.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 96 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CINF. Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Roth Capital lifted their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.25.

View Our Latest Research Report on Cincinnati Financial

Cincinnati Financial Trading Up 0.6%

Shares of CINF stock opened at $157.64 on Tuesday. The stock’s fifty day simple moving average is $156.07 and its 200 day simple moving average is $149.46. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $166.90. The firm has a market capitalization of $24.65 billion, a P/E ratio of 13.67, a P/E/G ratio of 7.01 and a beta of 0.72. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the company posted $1.42 EPS. The business’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, September 22nd. Cincinnati Financial’s payout ratio is 30.18%.

About Cincinnati Financial

(Free Report)

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.

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