DnB Asset Management AS Acquires 261 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

DnB Asset Management AS increased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 29,084 shares of the insurance provider’s stock after buying an additional 261 shares during the quarter. DnB Asset Management AS’s holdings in Cincinnati Financial were worth $4,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CINF. Oak Thistle LLC boosted its stake in shares of Cincinnati Financial by 177.8% in the 4th quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after buying an additional 5,485 shares during the last quarter. World Investment Advisors LLC purchased a new position in Cincinnati Financial in the third quarter worth about $546,000. JPMorgan Chase & Co. grew its stake in shares of Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after purchasing an additional 147,542 shares during the period. Principal Financial Group Inc. increased its position in shares of Cincinnati Financial by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock valued at $26,019,000 after purchasing an additional 5,097 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its stake in shares of Cincinnati Financial by 11.5% in 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 purchasing an additional 2,383 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $147.72 on Tuesday. The company has a market capitalization of $23.13 billion, a P/E ratio of 10.17, a P/E/G ratio of 8.30 and a beta of 0.66. Cincinnati Financial Co. has a 1-year low of $109.93 and a 1-year high of $161.75. The firm’s 50 day simple moving average is $140.71 and its two-hundred day simple moving average is $142.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. Research analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a dividend yield of 2.36%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio (DPR) is currently 23.97%.

Analysts Set New Price Targets

A number of analysts have commented on CINF shares. Roth Mkm upped their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $154.20.

Cincinnati Financial 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.