Cincinnati Financial Co. (NASDAQ:CINF) Shares Purchased by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co lifted its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 41.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,900 shares of the insurance provider’s stock after acquiring an additional 1,140 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Cincinnati Financial were worth $484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in Cincinnati Financial by 4.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock worth $23,367,000 after acquiring an additional 7,709 shares during the last quarter. UBS Group AG boosted its holdings in Cincinnati Financial by 15.4% in the 4th quarter. UBS Group AG now owns 349,153 shares of the insurance provider’s stock valued at $36,123,000 after purchasing an additional 46,595 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Cincinnati Financial by 40.6% in the 1st quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock valued at $20,904,000 after purchasing an additional 48,597 shares during the last quarter. United Advisor Group LLC acquired a new position in Cincinnati Financial in the 4th quarter valued at about $888,000. Finally, Norges Bank acquired a new position in Cincinnati Financial in the 4th quarter valued at about $179,305,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 0.3 %

CINF stock traded up $0.44 during midday trading on Wednesday, reaching $130.62. 1,438,467 shares of the company’s stock traded hands, compared to its average volume of 787,616. The company has a market capitalization of $20.41 billion, a P/E ratio of 8.69, a PEG ratio of 2.83 and a beta of 0.65. The business has a 50-day moving average price of $118.07 and a two-hundred day moving average price of $116.55. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $131.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Tuesday, June 18th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Tuesday, June 18th. Cincinnati Financial’s payout ratio is currently 21.56%.

Analyst Ratings Changes

CINF has been the topic of a number of research analyst reports. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Roth Mkm increased their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America raised their target price on shares of Cincinnati Financial from $143.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.57.

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.