18,618 Shares in Cincinnati Financial Corporation $CINF Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the third quarter, HoldingsChannel.com reports. The fund purchased 18,618 shares of the insurance provider’s stock, valued at approximately $2,944,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Market Inc. bought a new position in Cincinnati Financial in the third quarter valued at approximately $2,511,000. Strs Ohio boosted its holdings in shares of Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after buying an additional 71,378 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of Cincinnati Financial by 1,102.8% in the third quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock valued at $8,063,000 after buying an additional 46,757 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Cincinnati Financial in the third quarter valued at $1,622,000. Finally, Narwhal Capital Management increased its holdings in Cincinnati Financial by 62.4% during the third quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock worth $7,109,000 after buying an additional 17,276 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.9%

Shares of NASDAQ:CINF opened at $168.53 on Wednesday. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $174.27. The business has a 50 day moving average of $163.41 and a 200-day moving average of $160.70. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $26.23 billion, a PE ratio of 11.11, a P/E/G ratio of 3.79 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm posted $3.14 EPS. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be given a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 22.94%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CINF. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Finally, Wall Street Zen cut Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.33.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.