Meiji Yasuda Life Insurance Co Sells 160 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Meiji Yasuda Life Insurance Co trimmed its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,740 shares of the insurance provider’s stock after selling 160 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Cincinnati Financial were worth $442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in Cincinnati Financial by 252.2% during the 4th 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 period. Rothschild Investment LLC bought a new stake in shares of Cincinnati Financial in the second quarter valued at approximately $29,000. Raleigh Capital Management Inc. acquired a new stake in shares of Cincinnati Financial in the fourth quarter worth $31,000. Future Financial Wealth Managment LLC bought a new position in Cincinnati Financial during the first quarter worth $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Cincinnati Financial during the 2nd quarter valued at $49,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Bank of America decreased their target price 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. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Roth Mkm lifted their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.57.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $136.30 on Thursday. The stock’s fifty day simple moving average is $130.12 and its 200 day simple moving average is $121.95. Cincinnati Financial Co. has a one year low of $96.86 and a one year high of $139.34. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 2.60 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27.

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

Cincinnati Financial Announces Dividend

The company 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 payout ratio is 21.56%.

Cincinnati Financial Company 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.