Mirae Asset Global Investments Co. Ltd. Acquires 16,085 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,478 shares of the insurance provider’s stock after purchasing an additional 16,085 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Cincinnati Financial worth $19,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Oak Thistle LLC boosted its holdings in Cincinnati Financial by 177.8% in the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after acquiring an additional 5,485 shares in the last quarter. World Investment Advisors LLC bought a new position in Cincinnati Financial in the 3rd quarter worth about $546,000. JPMorgan Chase & Co. grew its position in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after purchasing an additional 147,542 shares during the last quarter. Principal Financial Group Inc. increased its stake in Cincinnati Financial by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock valued at $26,019,000 after purchasing an additional 5,097 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Cincinnati Financial in the third quarter worth about $636,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 0.8 %

NASDAQ:CINF opened at $136.77 on Thursday. The company has a 50 day simple moving average of $145.07 and a two-hundred day simple moving average of $139.90. The company has a market cap of $21.38 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 12 month low of $104.78 and a 12 month high of $161.74.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is 17.88%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Bank of America boosted their price target on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $143.33.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average price of $157.19 per share, with a total value of $157,190.00. Following the transaction, the director now directly owns 54,500 shares of the company’s stock, valued at $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.83% of the stock is owned by corporate insiders.

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.