New York Life Investment Management LLC lifted its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,117 shares of the insurance provider's stock after buying an additional 2,383 shares during the period. New York Life Investment Management LLC's holdings in Cincinnati Financial were worth $3,322,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in CINF. abrdn plc boosted its stake in shares of Cincinnati Financial by 10.6% in the third quarter. abrdn plc now owns 68,308 shares of the insurance provider's stock valued at $9,274,000 after buying an additional 6,556 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Cincinnati Financial by 8.4% in the third quarter. First Trust Direct Indexing L.P. now owns 3,744 shares of the insurance provider's stock valued at $510,000 after buying an additional 291 shares during the period. Cigna Investments Inc. New bought a new stake in shares of Cincinnati Financial in the third quarter valued at approximately $210,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Cincinnati Financial by 3.9% in the third quarter. Creative Financial Designs Inc. ADV now owns 6,910 shares of the insurance provider's stock valued at $941,000 after buying an additional 258 shares during the period. Finally, National Pension Service lifted its stake in Cincinnati Financial by 0.6% during the third quarter. National Pension Service now owns 254,012 shares of the insurance provider's stock worth $34,576,000 after purchasing an additional 1,513 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the company. Roth Mkm upped their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods upped their target price 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 investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and an average price target of $151.00.
Get Our Latest Analysis on CINF
In related news, Director Dirk J. Debbink acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $157.19 per share, for a total transaction 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. This trade represents a 1.87 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.83% of the stock is owned by corporate insiders.
Shares of CINF opened at $147.81 on Friday. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.74. The stock has a market capitalization of $23.10 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 8.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The stock has a fifty day moving average of $139.71 and a 200-day moving average of $141.31.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. As a group, sell-side analysts anticipate that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial's dividend payout ratio is presently 23.97%.
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.
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