Cincinnati Financial Corporation $CINF Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. increased its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 5.5% during the 2nd quarter, Holdings Channel reports. The fund owned 64,669 shares of the insurance provider’s stock after purchasing an additional 3,362 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cincinnati Financial were worth $9,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CINF. Ashton Thomas Securities LLC purchased a new stake in shares of Cincinnati Financial during the 1st quarter worth approximately $337,000. FJ Capital Management LLC raised its stake in Cincinnati Financial by 97.5% during the 1st quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider’s stock worth $4,327,000 after acquiring an additional 14,464 shares in the last quarter. M&T Bank Corp raised its stake in Cincinnati Financial by 12.7% during the 1st quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider’s stock worth $1,161,000 after acquiring an additional 887 shares in the last quarter. American National Bank & Trust purchased a new stake in Cincinnati Financial in the second quarter valued at $506,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Cincinnati Financial by 0.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 25,728 shares of the insurance provider’s stock valued at $3,772,000 after acquiring an additional 210 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Roth Capital reissued a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $171.67.

Insider Buying and Selling

In other news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, October 28th. The stock was bought at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the purchase, the director owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. The trade was a 1.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $164.64 on Friday. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $166.90. The stock’s 50-day moving average price is $156.62 and its 200 day moving average price is $151.02. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $25.69 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 4.27 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.84. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period last year, the business posted $1.42 EPS. The company’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were given a dividend of $0.87 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. Cincinnati Financial’s dividend payout ratio is presently 25.89%.

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.