SlateStone Wealth LLC Grows Stake in Cincinnati Financial Co. (NASDAQ:CINF)

SlateStone Wealth LLC raised its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,710 shares of the insurance provider’s stock after acquiring an additional 250 shares during the quarter. SlateStone Wealth LLC’s holdings in Cincinnati Financial were worth $1,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CINF. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cincinnati Financial during the 4th quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter valued at approximately $28,000. Y.D. More Investments Ltd lifted its stake in shares of Cincinnati Financial by 121.8% during the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after buying an additional 106 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter valued at approximately $42,000. Finally, Quarry LP purchased a new stake in shares of Cincinnati Financial during the 3rd quarter valued at approximately $43,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CINF. Roth Mkm upped their price target on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.00.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $145.39 on Monday. The firm’s 50 day simple moving average is $139.36 and its 200 day simple moving average is $142.10. 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 firm has a market capitalization of $22.76 billion, a PE ratio of 10.01, a price-to-earnings-growth 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.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share 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%. As a group, analysts expect that Cincinnati Financial Co. will post 5.36 earnings per share 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. Stockholders of record on Monday, March 24th will be issued a $0.87 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.39%. Cincinnati Financial’s dividend payout ratio is presently 23.97%.

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.