JPMorgan Chase & Co. Boosts Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

JPMorgan Chase & Co. raised its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 470,279 shares of the insurance provider’s stock after buying an additional 24,942 shares during the period. JPMorgan Chase & Co.’s holdings in Cincinnati Financial were worth $67,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oak Thistle LLC boosted its holdings in shares of Cincinnati Financial by 177.8% in the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock valued at $1,232,000 after purchasing an additional 5,485 shares during the period. World Investment Advisors LLC purchased a new position in shares of Cincinnati Financial during the third quarter valued at $546,000. Principal Financial Group Inc. raised its holdings in shares of Cincinnati Financial by 2.7% in the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock valued at $26,019,000 after acquiring an additional 5,097 shares in the last quarter. New York Life Investment Management LLC raised its holdings in shares of Cincinnati Financial by 11.5% in the fourth quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider’s stock valued at $3,322,000 after acquiring an additional 2,383 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its stake in Cincinnati Financial by 25.0% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 352,458 shares of the insurance provider’s stock worth $50,652,000 after acquiring an additional 70,408 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

CINF has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted 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. Roth Mkm upped their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.20.

Cincinnati Financial Stock Down 9.0 %

Shares of Cincinnati Financial stock opened at $131.69 on Friday. 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 company has a market cap of $20.62 billion, a P/E ratio of 9.07, a PEG ratio of 8.30 and a beta of 0.66. The firm’s 50 day moving average price is $141.11 and its 200-day moving average price is $142.97. 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 quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. On average, sell-side analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.87 dividend. The ex-dividend date is Monday, March 24th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.64%. Cincinnati Financial’s dividend payout ratio (DPR) is 23.97%.

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.