USA Financial Formulas Increases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

USA Financial Formulas lifted its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 461.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,358 shares of the insurance provider’s stock after acquiring an additional 1,116 shares during the period. USA Financial Formulas’ holdings in Cincinnati Financial were worth $195,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CINF. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after acquiring an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in Cincinnati Financial by 583.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after purchasing an additional 329,435 shares in the last quarter. AQR Capital Management LLC increased its position in Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after purchasing an additional 277,550 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after purchasing an additional 147,542 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the purchase, the director now directly owns 54,500 shares of the company’s stock, valued at $8,566,855. This trade represents a 1.87 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler increased their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Cincinnati Financial Stock Up 1.2 %

Shares of NASDAQ:CINF opened at $142.91 on Friday. Cincinnati Financial Co. has a 52-week low of $104.78 and a 52-week high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $22.34 billion, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. The company has a 50 day moving average of $148.92 and a two-hundred day moving average of $137.97.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business posted $1.66 EPS. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, analysts forecast that Cincinnati Financial Co. will post 6.3 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, December 19th. Cincinnati Financial’s payout ratio is currently 16.65%.

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.