Resona Asset Management Co. Ltd. Has $9.69 Million Stake in Cincinnati Financial Corporation $CINF

Resona Asset Management Co. Ltd. lowered its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 4.9% during the third quarter, Holdings Channel.com reports. The firm owned 61,501 shares of the insurance provider’s stock after selling 3,168 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Cincinnati Financial were worth $9,687,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CINF. Natural Investments LLC raised its holdings in shares of Cincinnati Financial by 2.1% in the third quarter. Natural Investments LLC now owns 3,421 shares of the insurance provider’s stock valued at $540,000 after buying an additional 70 shares during the last quarter. ORG Partners LLC increased its position in Cincinnati Financial by 5.0% in the 2nd quarter. ORG Partners LLC now owns 1,509 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 72 shares in the last quarter. HUB Investment Partners LLC increased its position in Cincinnati Financial by 3.9% in the 2nd quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 77 shares in the last quarter. Forum Financial Management LP raised its stake in shares of Cincinnati Financial by 2.1% in the second quarter. Forum Financial Management LP now owns 3,949 shares of the insurance provider’s stock worth $588,000 after acquiring an additional 80 shares during the last quarter. Finally, PCA Investment Advisory Services Inc. lifted its position in shares of Cincinnati Financial by 0.7% during the second quarter. PCA Investment Advisory Services Inc. now owns 10,935 shares of the insurance provider’s stock worth $1,628,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CINF. Piper Sandler raised their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Roth Mkm reiterated a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Stock Performance

CINF stock opened at $157.98 on Tuesday. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $169.86. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The company has a market cap of $24.65 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 3.54 and a beta of 0.66. The business’s fifty day moving average is $163.95 and its 200-day moving average is $158.09.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 22nd were issued a dividend of $0.87 per share. The ex-dividend date was Monday, December 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s payout ratio is currently 25.89%.

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.