Daiwa Securities Group Inc. Buys 1,419 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Daiwa Securities Group Inc. increased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 6.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 22,892 shares of the insurance provider’s stock after acquiring an additional 1,419 shares during the period. Daiwa Securities Group Inc.’s holdings in Cincinnati Financial were worth $2,703,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Assetmark Inc. grew its holdings in Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Cincinnati Financial during the 2nd quarter worth $29,000. Raleigh Capital Management Inc. acquired a new position in Cincinnati Financial in the 4th quarter valued at $31,000. Future Financial Wealth Managment LLC bought a new position in Cincinnati Financial in the 1st quarter worth $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Cincinnati Financial during the 2nd quarter worth $49,000. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Bank of America dropped their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $126.00 to $135.00 in a research report on Friday, June 28th. Finally, Roth Mkm boosted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Stock Performance

CINF opened at $135.82 on Friday. The stock has a market cap of $21.22 billion, a PE ratio of 9.04, a P/E/G ratio of 2.60 and a beta of 0.66. Cincinnati Financial Co. has a 1 year low of $96.86 and a 1 year high of $139.34. The stock’s 50 day simple moving average is $128.98 and its 200-day simple moving average is $121.41. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.33. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is 21.56%.

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.