Meiji Yasuda Asset Management Co Ltd. Acquires New Position in Cincinnati Financial Corporation $CINF

Meiji Yasuda Asset Management Co Ltd. bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,507 shares of the insurance provider’s stock, valued at approximately $1,503,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Cincinnati Financial in the 2nd quarter worth approximately $235,714,000. Vanguard Group Inc. increased its position in Cincinnati Financial by 1.6% in the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after buying an additional 317,033 shares during the period. Raymond James Financial Inc. lifted its stake in Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares during the last quarter. Amundi lifted its stake in Cincinnati Financial by 113.6% in the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock valued at $66,479,000 after buying an additional 242,020 shares during the last quarter. Finally, Korea Investment CORP boosted its holdings in shares of Cincinnati Financial by 210.0% during the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after acquiring an additional 199,437 shares during the period. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Cincinnati Financial Price Performance

Shares of CINF opened at $163.32 on Tuesday. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $174.27. The stock’s fifty day moving average is $163.43 and its 200-day moving average is $161.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 3.68 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data 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. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.14 earnings per share. Equities analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio (DPR) is currently 22.94%.

Cincinnati Financial Company 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.