Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Cincinnati Financial Co. (NASDAQ:CINF)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Cincinnati Financial Co. (NASDAQ:CINF) by 10.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,748 shares of the insurance provider’s stock after acquiring an additional 22,252 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.15% of Cincinnati Financial worth $29,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Cincinnati Financial in the fourth quarter valued at approximately $179,305,000. Los Angeles Capital Management LLC boosted its holdings in shares of Cincinnati Financial by 16.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock valued at $134,077,000 after buying an additional 186,629 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cincinnati Financial by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,093,275 shares of the insurance provider’s stock valued at $113,110,000 after buying an additional 54,687 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cincinnati Financial by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,126 shares of the insurance provider’s stock worth $94,058,000 after acquiring an additional 31,581 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Cincinnati Financial by 36.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 679,861 shares of the insurance provider’s stock valued at $70,338,000 after acquiring an additional 180,355 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Activity

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the purchase, the director now directly owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.83% of the company’s stock.

Cincinnati Financial Trading Down 0.9 %

Shares of Cincinnati Financial stock traded down $1.16 during trading hours on Thursday, reaching $126.01. 571,790 shares of the company’s stock were exchanged, compared to its average volume of 781,697. Cincinnati Financial Co. has a 52-week low of $96.86 and a 52-week high of $128.23. The company has a fifty day moving average of $117.20 and a 200-day moving average of $115.43. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 2.72 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.23 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.57%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Analyst Upgrades and Downgrades

CINF has been the topic of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $125.00 to $135.00 in a report on Monday, March 25th. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Bank of America lifted their price objective on Cincinnati Financial from $143.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

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.