Daiwa Securities Group Inc. Acquires 1,814 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Daiwa Securities Group Inc. boosted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,908 shares of the insurance provider’s stock after purchasing an additional 1,814 shares during the period. Daiwa Securities Group Inc.’s holdings in Cincinnati Financial were worth $1,750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in Cincinnati Financial during the fourth quarter worth about $31,000. NBC Securities Inc. bought a new position in shares of Cincinnati Financial in the third quarter valued at approximately $39,000. GoalVest Advisory LLC raised its stake in shares of Cincinnati Financial by 122.9% in the fourth quarter. GoalVest Advisory LLC now owns 390 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 215 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Cincinnati Financial in the third quarter valued at approximately $51,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Cincinnati Financial in the third quarter valued at approximately $100,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

CINF stock opened at $120.96 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The company has a 50 day moving average price of $117.20 and a 200 day moving average price of $108.73. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The stock has a market capitalization of $18.95 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 2.42 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.33. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts forecast that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, March 18th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is currently 27.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Citigroup lifted their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Piper Sandler reiterated a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. TheStreet upgraded shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.57.

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.