SBI Okasan Asset Management Co.Ltd. Takes Position in Cincinnati Financial Corporation $CINF

SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the 4th quarter, HoldingsChannel.com reports. The firm bought 6,800 shares of the insurance provider’s stock, valued at approximately $1,122,000.

Other institutional investors have also made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Cincinnati Financial during the 3rd quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new position in Cincinnati Financial during the 3rd quarter valued at about $30,000. Legacy Wealth Managment LLC ID lifted its holdings in Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 108 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new position in Cincinnati Financial during the 4th quarter valued at about $46,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 1.8%

Shares of NASDAQ CINF opened at $160.00 on Friday. Cincinnati Financial Corporation has a 1-year low of $143.37 and a 1-year high of $174.27. The company has a market cap of $24.75 billion, a PE ratio of 9.15, a P/E/G ratio of 3.54 and a beta of 0.59. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $162.65 and a two-hundred day moving average of $163.66.

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

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.4%. Cincinnati Financial’s payout ratio is currently 21.50%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CINF. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Piper Sandler lifted their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday. Roth Mkm lifted their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Bank of America cut their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $183.25.

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.