Cincinnati Financial Co. (NASDAQ:CINF) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.2% during the third quarter, Holdings Channel reports. The firm owned 103,939 shares of the insurance provider’s stock after purchasing an additional 189 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cincinnati Financial were worth $14,148,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CINF. Charles Schwab Investment Management Inc. grew its position in shares of Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after buying an additional 1,218,919 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Cincinnati Financial by 39.4% during the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after purchasing an additional 277,550 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares in the last quarter. Bahl & Gaynor Inc. lifted its holdings in shares of Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after purchasing an additional 107,081 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Cincinnati Financial by 126.4% in the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock valued at $21,259,000 after purchasing an additional 100,487 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $159.83 on Monday. The stock has a fifty day moving average price of $143.65 and a 200 day moving average price of $131.05. Cincinnati Financial Co. has a 1-year low of $100.31 and a 1-year high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $24.98 billion, a PE ratio of 8.21, a P/E/G ratio of 3.05 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business posted $1.66 EPS. The firm’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s payout ratio is 16.65%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CINF shares. Piper Sandler lifted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Bank of America lifted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Profile

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.