Tokio Marine Asset Management Co. Ltd. Acquires 493 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,327 shares of the insurance provider’s stock after purchasing an additional 493 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cincinnati Financial were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Avantax Advisory Services Inc. raised its holdings in Cincinnati Financial by 24.0% during the first quarter. Avantax Advisory Services Inc. now owns 5,604 shares of the insurance provider’s stock valued at $696,000 after buying an additional 1,085 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Cincinnati Financial by 330.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 11,440 shares of the insurance provider’s stock worth $1,421,000 after purchasing an additional 8,784 shares during the last quarter. Covestor Ltd boosted its position in Cincinnati Financial by 728.6% during the first quarter. Covestor Ltd now owns 1,160 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 1,020 shares during the period. Bahl & Gaynor Inc. grew its holdings in Cincinnati Financial by 0.3% during the first quarter. Bahl & Gaynor Inc. now owns 1,008,406 shares of the insurance provider’s stock valued at $125,214,000 after purchasing an additional 3,191 shares during the last quarter. Finally, Spreng Capital Management Inc. bought a new position in shares of Cincinnati Financial in the first quarter valued at approximately $217,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CINF has been the subject of several recent analyst reports. Roth Mkm upped their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Bank of America upped their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Trading Up 1.5 %

Shares of CINF opened at $151.78 on Friday. The stock’s 50-day moving average price is $139.54 and its 200 day moving average price is $128.14. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 12-month low of $99.61 and a 12-month high of $152.30. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 7.80, a P/E/G ratio of 2.86 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts predict that Cincinnati Financial Co. will post 6.35 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.13%. Cincinnati Financial’s dividend payout ratio is presently 16.65%.

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.