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

Mirae Asset Global Investments Co. Ltd. grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,410 shares of the insurance provider’s stock after buying an additional 6,518 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.11% of Cincinnati Financial worth $27,416,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Cincinnati Financial by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after acquiring an additional 317,033 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Cincinnati Financial by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock valued at $963,594,000 after purchasing an additional 106,266 shares during the last quarter. Bank of America Corp DE lifted its position in Cincinnati Financial by 4.2% during the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock worth $299,553,000 after buying an additional 80,487 shares in the last quarter. Norges Bank acquired a new position in Cincinnati Financial during the second quarter worth $235,714,000. Finally, Boston Trust Walden Corp grew its holdings in Cincinnati Financial by 3.6% in the 2nd quarter. Boston Trust Walden Corp now owns 833,789 shares of the insurance provider’s stock valued at $124,168,000 after buying an additional 29,012 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Cincinnati Financial Trading Down 0.1%

Shares of CINF stock opened at $158.19 on Friday. The company has a 50-day moving average of $163.68 and a two-hundred day moving average of $158.16. The firm has a market cap of $24.68 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.57 and a beta of 0.66. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $169.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.30.

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

Cincinnati Financial Announces Dividend

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

About Cincinnati Financial

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.