Brown Advisory Inc. lifted its position in Cincinnati Financial Co. (NASDAQ:CINF) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,530 shares of the insurance provider’s stock after buying an additional 4,392 shares during the period. Brown Advisory Inc.’s holdings in Cincinnati Financial were worth $11,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Pennsylvania Trust Co boosted its stake in shares of Cincinnati Financial by 1.3% in the 4th quarter. Pennsylvania Trust Co now owns 10,031 shares of the insurance provider’s stock worth $777,000 after buying an additional 130 shares during the last quarter. American International Group Inc. raised its holdings in Cincinnati Financial by 6.5% in the 3rd quarter. American International Group Inc. now owns 67,432 shares of the insurance provider’s stock worth $5,179,000 after purchasing an additional 4,098 shares during the period. TD Asset Management Inc. raised its holdings in Cincinnati Financial by 0.6% in the 4th quarter. TD Asset Management Inc. now owns 441,251 shares of the insurance provider’s stock worth $34,162,000 after purchasing an additional 2,512 shares during the period. Korea Investment CORP raised its holdings in Cincinnati Financial by 60.1% in the 3rd quarter. Korea Investment CORP now owns 2,325 shares of the insurance provider’s stock worth $179,000 after purchasing an additional 873 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new position in Cincinnati Financial in the 3rd quarter worth $168,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.
Shares of Cincinnati Financial stock opened at $85.32 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $13.96 billion, a P/E ratio of 25.47 and a beta of 0.68. Cincinnati Financial Co. has a one year low of $66.33 and a one year high of $87.46.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, March 20th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, March 19th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 2.63%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 63.28%.
A number of equities analysts recently commented on CINF shares. Zacks Investment Research raised Cincinnati Financial from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Wednesday, January 9th. BidaskClub cut Cincinnati Financial from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 9th. Buckingham Research started coverage on Cincinnati Financial in a report on Friday, December 14th. They issued a “neutral” rating and a $80.00 target price on the stock. Finally, Credit Suisse Group raised Cincinnati Financial from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $90.00 in a report on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $89.00.
In other Cincinnati Financial news, Director Dirk J. Debbink purchased 351 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were acquired at an average cost of $85.48 per share, with a total value of $30,003.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.07% of the stock is owned by company insiders.
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About Cincinnati Financial
Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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