Ameriprise Financial Inc. Acquires 7,250 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Ameriprise Financial Inc. boosted its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 7.5% during the fourth quarter, Holdings Channel reports. The fund owned 103,813 shares of the insurance provider’s stock after purchasing an additional 7,250 shares during the period. Ameriprise Financial Inc.’s holdings in Cincinnati Financial were worth $14,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. New York Life Investment Management LLC increased its position in Cincinnati Financial by 11.5% during the 4th quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider’s stock worth $3,322,000 after buying an additional 2,383 shares during the period. Proficio Capital Partners LLC bought a new position in Cincinnati Financial during the 4th quarter worth $4,935,000. AEGON ASSET MANAGEMENT UK Plc increased its position in Cincinnati Financial by 25.0% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 352,458 shares of the insurance provider’s stock worth $50,652,000 after buying an additional 70,408 shares during the period. Aviva PLC increased its position in Cincinnati Financial by 68.0% during the 4th quarter. Aviva PLC now owns 9,731 shares of the insurance provider’s stock worth $1,398,000 after buying an additional 3,938 shares during the period. Finally, Vest Financial LLC increased its position in Cincinnati Financial by 2.3% during the 4th quarter. Vest Financial LLC now owns 427,595 shares of the insurance provider’s stock worth $61,445,000 after buying an additional 9,529 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

CINF opened at $150.86 on Friday. The firm has a market cap of $23.58 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 8.30 and a beta of 0.73. Cincinnati Financial Co. has a 52-week low of $111.92 and a 52-week high of $161.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The business’s fifty day moving average is $140.44 and its 200-day moving average is $143.05.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.37. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Cincinnati Financial’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 EPS. Sell-side analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Monday, June 23rd. Cincinnati Financial’s dividend payout ratio is presently 37.95%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Roth Mkm increased their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, StockNews.com raised Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.40.

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.