Meiji Yasuda Asset Management Co Ltd. Acquires 9,768 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 261.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,508 shares of the insurance provider’s stock after acquiring an additional 9,768 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cincinnati Financial were worth $1,595,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in Cincinnati Financial by 252.2% in the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Cincinnati Financial during the second quarter worth $29,000. Raleigh Capital Management Inc. bought a new position in Cincinnati Financial during the fourth quarter worth $31,000. Future Financial Wealth Managment LLC acquired a new stake in Cincinnati Financial during the 1st quarter worth about $47,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Cincinnati Financial during the 2nd quarter valued at about $49,000. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

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

Cincinnati Financial Trading Down 0.4 %

NASDAQ:CINF opened at $135.77 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a one year low of $96.86 and a one year high of $139.34. The company has a market cap of $21.26 billion, a PE ratio of 9.03, a PEG ratio of 2.60 and a beta of 0.66. The firm has a 50-day moving average of $130.41 and a 200-day moving average of $122.04.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm 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 posted $1.21 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

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.