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

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 195,288 shares of the insurance provider’s stock, valued at approximately $31,123,000. Mirae Asset Global Investments Co. Ltd. owned 0.13% of Cincinnati Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BIP Wealth LLC boosted 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 valued at $720,000 after purchasing an additional 63 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of Cincinnati Financial by 2.1% in the second quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock valued at $577,000 after purchasing an additional 64 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Cincinnati Financial by 0.5% in 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 in the last quarter. McAdam LLC grew its holdings in shares of Cincinnati Financial by 2.6% in the second quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock valued at $512,000 after purchasing an additional 70 shares in the last quarter. Finally, North Dakota State Investment Board increased its stake in Cincinnati Financial by 1.8% during the 3rd quarter. North Dakota State Investment Board now owns 4,662 shares of the insurance provider’s stock worth $743,000 after buying an additional 82 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CINF. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Piper Sandler boosted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Roth Capital upped their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research note on Wednesday, July 15th. One investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Insider Activity at Cincinnati Financial

In other news, Director Dirk Debbink acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the transaction, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.94% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF opened at $183.78 on Tuesday. Cincinnati Financial Corporation has a 1 year low of $151.99 and a 1 year high of $194.81. The stock has a market capitalization of $28.21 billion, a PE ratio of 18.38, a PEG ratio of 2.95 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.27. The stock has a 50-day simple moving average of $169.64 and a 200-day simple moving average of $168.26.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.81. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.64 billion. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.85 earnings per share. On average, analysts predict that Cincinnati Financial Corporation will post 9.09 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s payout ratio is 22.05%.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.