Asset Management One Co. Ltd. Cuts Position in Cincinnati Financial Co. (NASDAQ:CINF)

Asset Management One Co. Ltd. trimmed its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,197 shares of the insurance provider’s stock after selling 2,109 shares during the period. Asset Management One Co. Ltd.’s holdings in Cincinnati Financial were worth $8,671,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new position in Cincinnati Financial in the third quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Cincinnati Financial in the fourth quarter worth about $27,000. Legacy Investment Solutions LLC purchased a new stake in Cincinnati Financial in the third quarter worth about $28,000. Y.D. More Investments Ltd grew its holdings in Cincinnati Financial by 121.8% in the fourth 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. Finally, True Wealth Design LLC purchased a new stake in Cincinnati Financial in the third quarter worth about $42,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

CINF opened at $136.97 on Tuesday. The firm’s fifty day simple moving average is $141.69 and its two-hundred day simple moving average is $140.61. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market cap of $21.41 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 2.42 and a beta of 0.71. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last issued 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 net margin of 25.26% and a return on equity of 8.25%. Equities analysts anticipate that Cincinnati Financial Co. will post 6.33 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, March 24th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s payout ratio is 16.65%.

Wall Street Analysts Forecast Growth

CINF has been the topic of several research reports. Roth Mkm raised their target price 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. Piper Sandler raised their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average price target of $151.00.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the transaction, the director now directly owns 54,500 shares in the company, valued at $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.83% of the stock is currently owned by company insiders.

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.