Cincinnati Financial Co. (NASDAQ:CINF) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in Cincinnati Financial Co. (NASDAQ:CINF) by 6.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,892 shares of the insurance provider’s stock after buying an additional 1,419 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cincinnati Financial were worth $2,703,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CINF. Andra AP fonden lifted its holdings in Cincinnati Financial by 18.7% in the 2nd quarter. Andra AP fonden now owns 59,800 shares of the insurance provider’s stock valued at $7,062,000 after acquiring an additional 9,400 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Cincinnati Financial by 52.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 96,563 shares of the insurance provider’s stock worth $11,404,000 after purchasing an additional 33,017 shares in the last quarter. PFG Investments LLC acquired a new stake in Cincinnati Financial during the second quarter valued at approximately $433,000. Ashton Thomas Private Wealth LLC bought a new stake in Cincinnati Financial during the second quarter worth approximately $49,000. Finally, Strategic Financial Concepts LLC acquired a new position in Cincinnati Financial in the second quarter worth approximately $58,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

CINF opened at $135.82 on Friday. The stock has a fifty day moving average price of $128.98 and a 200 day moving average price of $121.41. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 1 year low of $96.86 and a 1 year high of $139.34. The stock has a market cap of $21.22 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 2.60 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the company earned $1.21 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Analysts forecast that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.39%. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CINF shares. Roth Mkm increased their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Bank of America reduced their target price on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $126.00 to $135.00 in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.57.

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.