CIBC Asset Management Inc Purchases 18,330 Shares of Cincinnati Financial Corporation $CINF

CIBC Asset Management Inc lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 84.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,967 shares of the insurance provider’s stock after purchasing an additional 18,330 shares during the period. CIBC Asset Management Inc’s holdings in Cincinnati Financial were worth $6,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Cibc World Market Inc. bought a new position in Cincinnati Financial during the 3rd quarter worth $2,511,000. Western Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the 3rd quarter valued at $1,622,000. Johnson Investment Counsel Inc. boosted its holdings in shares of Cincinnati Financial by 2.8% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock valued at $222,238,000 after purchasing an additional 37,913 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Cincinnati Financial in the 3rd quarter valued at $1,503,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Cincinnati Financial by 74.8% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,339 shares of the insurance provider’s stock valued at $2,267,000 after purchasing an additional 6,135 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the topic of a number of research analyst reports. Roth Mkm raised their target price on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Bank of America cut their price objective on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Buy” and an average price target of $183.25.

Cincinnati Financial Trading Up 2.9%

NASDAQ CINF opened at $165.29 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a twelve month low of $143.37 and a twelve month high of $174.27. The company has a market cap of $25.57 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. The business’s fifty day moving average is $162.76 and its 200 day moving average is $163.41.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.17. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.Cincinnati Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned ($0.24) EPS. As a group, sell-side analysts expect that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.50%.

Cincinnati Financial Company Profile

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.