Mirae Asset Global Investments Co. Ltd. Purchases 11,282 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 10.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,393 shares of the insurance provider’s stock after purchasing an additional 11,282 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Cincinnati Financial worth $15,923,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Cincinnati Financial during the third quarter worth about $25,000. Rothschild Investment LLC bought a new stake in Cincinnati Financial in the second quarter valued at approximately $29,000. Future Financial Wealth Managment LLC bought a new stake in Cincinnati Financial in the third quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV boosted its holdings in Cincinnati Financial by 49.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 80 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Cincinnati Financial in the third quarter valued at approximately $33,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Price Performance

Shares of CINF opened at $141.25 on Friday. Cincinnati Financial Co. has a 52-week low of $96.86 and a 52-week high of $142.25. 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 business’s 50 day moving average price is $136.06 and its two-hundred day moving average price is $125.26. The firm has a market cap of $22.11 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm posted $1.66 earnings per share. Cincinnati Financial’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s payout ratio is 21.56%.

Analyst Ratings Changes

Several brokerages recently commented on CINF. Bank of America upped their target price on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price 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 upped their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $136.29.

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.