Mitsubishi UFJ Asset Management Co. Ltd. Acquires 18,901 Shares of Cincinnati Financial Corporation $CINF

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 404,490 shares of the insurance provider’s stock after buying an additional 18,901 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.26% of Cincinnati Financial worth $74,887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CINF. BIP Wealth LLC grew its stake in shares of Cincinnati Financial by 1.6% in the second quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after acquiring an additional 63 shares during the period. Oppenheimer & Co. Inc. lifted its position in Cincinnati Financial by 0.5% during the second quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock valued at $2,616,000 after purchasing an additional 68 shares during the period. McAdam LLC boosted its holdings in Cincinnati Financial by 2.6% in the second quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock worth $512,000 after purchasing an additional 70 shares during the last quarter. Triton Financial Group Inc boosted its holdings in Cincinnati Financial by 0.7% in the fourth quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock worth $1,718,000 after purchasing an additional 73 shares during the last quarter. Finally, Essex Financial Services Inc. boosted its holdings in Cincinnati Financial by 3.5% in the fourth quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 1.7%

NASDAQ:CINF opened at $168.49 on Thursday. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The business has a fifty day moving average price of $177.98 and a 200-day moving average price of $168.49. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 3.59 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the firm posted $1.97 earnings per share. Sell-side analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Weiss Ratings upgraded Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 6th. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Piper Sandler upped their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Roth Capital increased their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $195.40.

Cincinnati Financial 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.