Assenagon Asset Management S.A. Increases Position in Cincinnati Financial Corporation $CINF

Assenagon Asset Management S.A. grew its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 7,646.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 130,612 shares of the insurance provider’s stock after buying an additional 128,926 shares during the period. Assenagon Asset Management S.A.’s holdings in Cincinnati Financial were worth $21,332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC bought a new position in Cincinnati Financial in the 3rd quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Cincinnati Financial during the third quarter worth $30,000. Quent Capital LLC purchased a new stake in shares of Cincinnati Financial during the third quarter valued at $34,000. Field & Main Bank purchased a new stake in shares of Cincinnati Financial during the third quarter valued at $47,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Cincinnati Financial in the third quarter worth about $53,000. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CINF. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Piper Sandler upped their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.33.

Cincinnati Financial Stock Up 1.4%

Shares of Cincinnati Financial stock opened at $157.55 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 3.46 and a beta of 0.63. The firm’s 50-day moving average is $162.95 and its two-hundred day moving average is $161.65. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, beating the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the business posted $3.14 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.94 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 24.79%.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.