195,288 Shares of Cincinnati Financial Corporation $CINF Purchased by Mirae Asset Global Investments Co. Ltd.

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

Several other hedge funds and other institutional investors have also made changes to their positions in CINF. Profund Advisors LLC boosted its holdings in Cincinnati Financial by 10.5% in the third quarter. Profund Advisors LLC now owns 1,497 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 142 shares in the last quarter. Vise Technologies Inc. raised its holdings in Cincinnati Financial by 4.9% during the third quarter. Vise Technologies Inc. now owns 8,426 shares of the insurance provider’s stock worth $1,343,000 after purchasing an additional 397 shares in the last quarter. Investment Partners LTD. raised its holdings in Cincinnati Financial by 50.9% during the third quarter. Investment Partners LTD. now owns 4,118 shares of the insurance provider’s stock worth $656,000 after purchasing an additional 1,389 shares in the last quarter. Modera Wealth Management LLC lifted its position in shares of Cincinnati Financial by 72.5% during the 3rd quarter. Modera Wealth Management LLC now owns 2,036 shares of the insurance provider’s stock worth $324,000 after buying an additional 856 shares during the last quarter. Finally, Parcion Private Wealth LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter worth approximately $210,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 12th. Piper Sandler lifted 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 lifted their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Cincinnati Financial Trading Up 1.4%

NASDAQ:CINF opened at $183.78 on Tuesday. The stock’s 50 day moving average price is $169.64 and its 200 day moving average price is $168.26. The company has a market capitalization of $28.21 billion, a PE ratio of 18.38, a P/E/G ratio of 2.95 and a beta of 0.52. The company has a quick ratio of 0.31, a current ratio of 0.27 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 52-week low of $151.99 and a 52-week high of $194.81.

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

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were given a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.0%. Cincinnati Financial’s dividend payout ratio (DPR) is 22.05%.

Insider Activity

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.94% of the company’s stock.

About Cincinnati Financial

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.