DnB Asset Management AS Purchases 261 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

DnB Asset Management AS raised its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,084 shares of the insurance provider’s stock after buying an additional 261 shares during the period. DnB Asset Management AS’s holdings in Cincinnati Financial were worth $4,179,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on CINF shares. Roth Mkm raised their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.20.

Cincinnati Financial Stock Performance

Shares of CINF opened at $147.72 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $23.13 billion, a P/E ratio of 10.17, a P/E/G ratio of 8.30 and a beta of 0.66. The business’s 50 day moving average price is $140.71 and its 200-day moving average price is $142.88. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping 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 anticipate that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is currently 23.97%.

Cincinnati Financial Company 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.