Cincinnati Financial Co. (NASDAQ:CINF) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,030,017 shares of the insurance provider’s stock after acquiring an additional 27,301 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of Cincinnati Financial worth $148,013,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after buying an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in Cincinnati Financial by 583.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock valued at $52,531,000 after buying an additional 329,435 shares during the period. JPMorgan Chase & Co. raised its holdings in Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after buying an additional 147,542 shares during the period. SG Americas Securities LLC raised its holdings in Cincinnati Financial by 3,381.8% in the fourth quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock valued at $20,228,000 after buying an additional 136,725 shares during the period. Finally, Cibc World Market Inc. raised its holdings in Cincinnati Financial by 1,711.7% in the fourth quarter. Cibc World Market Inc. now owns 103,505 shares of the insurance provider’s stock valued at $14,874,000 after buying an additional 97,792 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CINF has been the topic of several research reports. Roth Mkm raised their price target 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 raised 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. One equities research analyst has 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, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average price target of $151.00.

Cincinnati Financial Trading Up 2.3 %

NASDAQ CINF opened at $147.81 on Friday. The company’s fifty day simple moving average is $139.71 and its 200-day simple moving average is $141.22. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.74. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock has a market cap of $23.10 billion, a P/E ratio of 10.18, a PEG ratio of 8.30 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping 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%. Equities research analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued 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 annualized dividend and a yield of 2.35%. Cincinnati Financial’s dividend payout ratio is currently 23.97%.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average cost of $157.19 per share, with a total value of $157,190.00. Following the completion of the acquisition, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. The trade was a 1.87 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by corporate insiders.

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.