SBI Okasan Asset Management Co.Ltd. Makes New $1.12 Million Investment in Cincinnati Financial Corporation $CINF

SBI Okasan Asset Management Co.Ltd. purchased a new position in Cincinnati Financial Corporation (NASDAQ:CINF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,800 shares of the insurance provider’s stock, valued at approximately $1,122,000.

Several other hedge funds have also made changes to their positions in CINF. Bison Wealth LLC purchased a new stake in shares of Cincinnati Financial in the 4th quarter valued at approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after acquiring an additional 525 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Cincinnati Financial by 43.9% in the 1st 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. Federated Hermes Inc. purchased a new stake in shares of Cincinnati Financial in the 2nd quarter valued at approximately $101,000. Finally, Cerity Partners LLC lifted its position in shares of Cincinnati Financial by 10.8% in the 2nd quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock valued at $7,115,000 after acquiring an additional 4,674 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler upped their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Bank of America reduced their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Roth Mkm upped their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Cincinnati Financial currently has an average rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Stock Performance

Shares of CINF opened at $160.00 on Friday. The company has a market capitalization of $24.75 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59. Cincinnati Financial Corporation has a one year low of $143.37 and a one year high of $174.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The company’s fifty day moving average price is $162.65 and its 200 day moving average price is $163.66.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping the consensus estimate of $1.93 by $0.17. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) EPS. As a group, analysts expect that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 21.50%.

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.