Royal London Asset Management Ltd. Increases Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Royal London Asset Management Ltd. raised its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,186 shares of the insurance provider’s stock after purchasing an additional 3,907 shares during the period. Royal London Asset Management Ltd.’s holdings in Cincinnati Financial were worth $6,641,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CINF. Norges Bank purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $179,305,000. AQR Capital Management LLC increased its position in Cincinnati Financial by 1,870.3% during the third quarter. AQR Capital Management LLC now owns 274,030 shares of the insurance provider’s stock worth $28,031,000 after purchasing an additional 260,122 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Cincinnati Financial during the fourth quarter worth approximately $21,036,000. London Co. of Virginia increased its position in Cincinnati Financial by 7.8% during the third quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock worth $283,658,000 after purchasing an additional 200,414 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Cincinnati Financial by 16.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock worth $134,077,000 after purchasing an additional 186,629 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Cincinnati Financial stock traded down $1.39 during midday trading on Friday, reaching $112.27. 670,762 shares of the stock traded hands, compared to its average volume of 507,420. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $117.14 and a two-hundred day moving average price of $112.90. The firm has a market cap of $17.58 billion, a price-to-earnings ratio of 7.47, a PEG ratio of 2.43 and a beta of 0.65. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.13 billion. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. Cincinnati Financial’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. On average, equities research analysts forecast that Cincinnati Financial Co. will post 6.37 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.89%. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Insiders Place Their Bets

In related news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the transaction, the director now owns 53,988 shares of the company’s stock, valued at $6,126,018.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CINF has been the subject of several recent research reports. Citigroup increased their price objective on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Piper Sandler reissued a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $126.00.

Cincinnati Financial Company 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.