Cibc World Markets Corp Increases Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Cibc World Markets Corp raised its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 394.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,665 shares of the insurance provider’s stock after buying an additional 119,384 shares during the quarter. Cibc World Markets Corp’s holdings in Cincinnati Financial were worth $21,507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CINF. Brown Brothers Harriman & Co. boosted its holdings in Cincinnati Financial by 2.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock valued at $460,000 after purchasing an additional 68 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in Cincinnati Financial by 5.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,562 shares of the insurance provider’s stock valued at $224,000 after acquiring an additional 74 shares during the last quarter. Wealth Dimensions Group Ltd. grew its position in Cincinnati Financial by 0.9% in the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock worth $1,098,000 after acquiring an additional 75 shares during the period. Park Avenue Securities LLC increased its stake in Cincinnati Financial by 0.4% during the fourth quarter. Park Avenue Securities LLC now owns 17,473 shares of the insurance provider’s stock worth $2,511,000 after acquiring an additional 78 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Cincinnati Financial by 1.4% in the third quarter. Tidal Investments LLC now owns 5,819 shares of the insurance provider’s stock valued at $792,000 after purchasing an additional 80 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 subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Roth Mkm increased 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Cincinnati Financial Stock Up 1.3 %

Shares of NASDAQ CINF opened at $147.22 on Tuesday. Cincinnati Financial Co. has a 12-month low of $109.93 and a 12-month high of $161.75. The stock has a market cap of $23.04 billion, a P/E ratio of 10.14, a PEG ratio of 8.30 and a beta of 0.66. 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 business’s fifty day simple moving average is $139.47 and its 200-day simple moving average is $142.18.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, March 24th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s payout ratio is 23.97%.

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.