Point72 Asset Management L.P. Raises Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Point72 Asset Management L.P. boosted its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,630 shares of the insurance provider’s stock after purchasing an additional 19,630 shares during the quarter. Point72 Asset Management L.P.’s holdings in Cincinnati Financial were worth $16,329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CINF. Norges Bank purchased a new position in Cincinnati Financial during the 4th quarter worth $223,959,000. Topsail Wealth Management LLC purchased a new position in Cincinnati Financial in the 4th quarter valued at about $47,114,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Cincinnati Financial by 62.6% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider’s stock valued at $90,166,000 after purchasing an additional 241,540 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cincinnati Financial by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider’s stock valued at $863,099,000 after purchasing an additional 224,033 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Cincinnati Financial by 26.7% during the 4th quarter. First Trust Advisors LP now owns 980,582 shares of the insurance provider’s stock worth $140,910,000 after acquiring an additional 206,693 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the topic of several recent analyst reports. Roth Mkm increased their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods lowered their price objective on shares of Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, StockNews.com raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $147.40.

Cincinnati Financial Stock Performance

CINF stock opened at $150.86 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 8.30 and a beta of 0.73. Cincinnati Financial Co. has a 1 year low of $111.92 and a 1 year high of $161.75. The stock’s fifty day moving average is $140.44 and its two-hundred day moving average is $143.05.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.37. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the business earned $1.72 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis. On average, research analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial’s payout ratio is currently 37.95%.

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.