Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 18.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 31,274 shares of the insurance provider’s stock after buying an additional 4,957 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cincinnati Financial were worth $3,236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BKM Wealth Management LLC bought a new position in Cincinnati Financial in the 4th quarter valued at $31,000. AM Squared Ltd bought a new position in Cincinnati Financial in the 1st quarter valued at $34,000. Clear Street Markets LLC grew its position in Cincinnati Financial by 93.1% in the 1st quarter. Clear Street Markets LLC now owns 309 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 149 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in Cincinnati Financial in the 4th quarter valued at $37,000. Finally, Comerica Bank bought a new position in Cincinnati Financial in the 2nd quarter valued at $350,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Down 1.5 %

Shares of CINF stock opened at $115.30 on Thursday. The stock has a 50 day moving average of $116.58 and a 200 day moving average of $108.28. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The stock has a market cap of $18.06 billion, a P/E ratio of 9.88, a P/E/G ratio of 2.40 and a beta of 0.63. Cincinnati Financial Co. has a twelve month low of $95.01 and a twelve month high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.33. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. Cincinnati Financial’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $1.27 earnings per share. As a group, sell-side analysts expect that Cincinnati Financial Co. will post 6.2 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were issued a $0.81 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Monday, March 18th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 27.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CINF shares. Citigroup increased their price target on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday. Piper Sandler reissued a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Finally, TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Hold” and an average target price of $123.57.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through 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.