DekaBank Deutsche Girozentrale Raises Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

DekaBank Deutsche Girozentrale lifted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,100 shares of the insurance provider’s stock after buying an additional 582 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cincinnati Financial were worth $3,070,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Cincinnati Financial by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock worth $23,367,000 after buying an additional 7,709 shares in the last quarter. UBS Group AG increased its stake in Cincinnati Financial by 15.4% in the 4th quarter. UBS Group AG now owns 349,153 shares of the insurance provider’s stock valued at $36,123,000 after purchasing an additional 46,595 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Cincinnati Financial by 40.6% in the 1st quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock valued at $20,904,000 after purchasing an additional 48,597 shares in the last quarter. United Advisor Group LLC purchased a new position in Cincinnati Financial in the 4th quarter valued at approximately $888,000. Finally, Norges Bank purchased a new position in Cincinnati Financial in the 4th quarter valued at approximately $179,305,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $136.30 on Thursday. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $139.34. The stock has a fifty day moving average of $130.12 and a two-hundred day moving average of $121.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $21.34 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.60 and a beta of 0.66.

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

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Wall Street Analysts Forecast Growth

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

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.