Cincinnati Financial Corporation $CINF Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 3.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,410 shares of the insurance provider’s stock after purchasing an additional 6,518 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cincinnati Financial were worth $27,416,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in Cincinnati Financial during the 2nd quarter worth approximately $235,714,000. Vanguard Group Inc. grew its stake in shares of Cincinnati Financial by 1.6% in the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after acquiring an additional 317,033 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after acquiring an additional 262,715 shares in the last quarter. Amundi increased its position in shares of Cincinnati Financial by 113.6% during the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after acquiring an additional 242,020 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after acquiring an additional 173,343 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several analyst reports. Piper Sandler boosted their target price on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.33.

Cincinnati Financial Trading Down 0.1%

NASDAQ:CINF opened at $158.19 on Friday. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $169.86. The stock has a market cap of $24.68 billion, a P/E ratio of 11.77, a P/E/G ratio of 3.57 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day simple moving average of $163.68 and a 200-day simple moving average of $158.16.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.84. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $1.42 EPS. As a group, analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, December 22nd. Cincinnati Financial’s payout ratio is currently 25.89%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.