Mitsubishi UFJ Asset Management Co. Ltd. Buys 1,445 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,496 shares of the insurance provider’s stock after purchasing an additional 1,445 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Cincinnati Financial were worth $22,784,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Criterion Capital Advisors LLC acquired a new stake in Cincinnati Financial during the 4th quarter valued at $27,000. BKM Wealth Management LLC bought a new stake in Cincinnati Financial in the 4th quarter valued at $31,000. NBC Securities Inc. acquired a new position in Cincinnati Financial in the 3rd quarter valued at $39,000. GoalVest Advisory LLC increased its position in Cincinnati Financial by 122.9% during the 4th quarter. GoalVest Advisory LLC now owns 390 shares of the insurance provider’s stock worth $40,000 after buying an additional 215 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of Cincinnati Financial in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 1.0 %

Shares of NASDAQ CINF opened at $118.52 on Friday. The company has a market cap of $18.56 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 2.50 and a beta of 0.63. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 12 month low of $95.01 and a 12 month high of $124.35. The stock has a 50-day moving average price of $118.83 and a two-hundred day moving average price of $110.69.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.13 billion. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The firm’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. As a group, analysts forecast that Cincinnati Financial Co. will post 6.37 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, June 14th. Cincinnati Financial’s payout ratio is 21.56%.

Insider Activity at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction on Monday, April 29th. The stock was acquired at an average price of $113.47 per share, with a total value of $113,470.00. Following the acquisition, the director now directly owns 53,988 shares in the company, valued at $6,126,018.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CINF shares. Citigroup lifted their price objective on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Keefe, Bruyette & Woods upped 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. Finally, BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $125.00 to $135.00 in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $124.50.

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.