Prana Capital Management LP acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,945 shares of the insurance provider’s stock, valued at approximately $3,145,000. Cincinnati Financial comprises 1.1% of Prana Capital Management LP’s investment portfolio, making the stock its 26th biggest holding.
A number of other large investors have also recently made changes to their positions in CINF. Truepoint Inc. raised its holdings in Cincinnati Financial by 7,395.5% during the 3rd quarter. Truepoint Inc. now owns 1,954,901 shares of the insurance provider’s stock worth $1,955,000 after purchasing an additional 1,928,820 shares during the last quarter. PGGM Investments bought a new stake in Cincinnati Financial during the 4th quarter worth about $16,892,000. Bank of New York Mellon Corp raised its holdings in Cincinnati Financial by 12.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,321,179 shares of the insurance provider’s stock worth $99,048,000 after purchasing an additional 144,745 shares during the last quarter. Guggenheim Capital LLC raised its holdings in Cincinnati Financial by 20.7% during the 4th quarter. Guggenheim Capital LLC now owns 663,458 shares of the insurance provider’s stock worth $49,740,000 after purchasing an additional 113,841 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Cincinnati Financial during the 4th quarter worth about $6,077,000. 63.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Cincinnati Financial Co. (NASDAQ CINF) opened at $77.04 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $12,633.66, a PE ratio of 12.23 and a beta of 0.87. Cincinnati Financial Co. has a 52 week low of $68.49 and a 52 week high of $81.98.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Wednesday, March 21st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, March 20th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.75%. Cincinnati Financial’s dividend payout ratio is 31.75%.
In other Cincinnati Financial news, Director Douglas S. Skidmore acquired 650 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $70.65 per share, for a total transaction of $45,922.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.25% of the stock is currently owned by insiders.
Several brokerages have weighed in on CINF. BidaskClub raised Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research cut Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Cincinnati Financial in a research note on Thursday, February 8th. Finally, Langen Mcalenn reaffirmed a “neutral” rating on shares of Cincinnati Financial in a research note on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $74.67.
Cincinnati Financial Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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