WealthPLAN Partners LLC boosted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 91,474 shares of the insurance provider’s stock after purchasing an additional 10,288 shares during the quarter. WealthPLAN Partners LLC owned approximately 0.06% of Cincinnati Financial worth $7,989,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CINF. Blair William & Co. IL purchased a new stake in shares of Cincinnati Financial in the fourth quarter valued at $202,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Cincinnati Financial by 13.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 136,642 shares of the insurance provider’s stock valued at $11,938,000 after acquiring an additional 16,107 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Cincinnati Financial by 17.1% in the fourth quarter. ProShare Advisors LLC now owns 1,346,959 shares of the insurance provider’s stock valued at $117,684,000 after acquiring an additional 196,322 shares in the last quarter. FDx Advisors Inc. lifted its position in Cincinnati Financial by 99.8% during the fourth quarter. FDx Advisors Inc. now owns 10,980 shares of the insurance provider’s stock worth $959,000 after buying an additional 5,485 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its position in Cincinnati Financial by 3.1% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 228,171 shares of the insurance provider’s stock worth $19,935,000 after buying an additional 6,954 shares during the period. Institutional investors own 65.26% of the company’s stock.
Several brokerages have commented on CINF. Deutsche Bank Aktiengesellschaft upped their price target on Cincinnati Financial from $74.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, February 16th. Zacks Investment Research raised Cincinnati Financial from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Thursday, February 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $79.29.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Tuesday, February 9th. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.42. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts forecast that Cincinnati Financial Co. will post 2.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 17th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, March 16th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 2.59%. Cincinnati Financial’s dividend payout ratio (DPR) is 57.14%.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation, together with its subsidiary, 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 offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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