Migdal Insurance & Financial Holdings Ltd. Makes New Investment in Cincinnati Financial Co. (NASDAQ:CINF)

Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 186 shares of the insurance provider’s stock, valued at approximately $27,000.

Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. increased its position in shares of Cincinnati Financial by 2.1% in the third quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock worth $460,000 after acquiring an additional 68 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Cincinnati Financial by 5.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,562 shares of the insurance provider’s stock valued at $224,000 after purchasing an additional 74 shares in the last quarter. Wealth Dimensions Group Ltd. boosted its position in shares of Cincinnati Financial by 0.9% in the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock worth $1,098,000 after buying an additional 75 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Cincinnati Financial by 0.4% during the fourth quarter. Park Avenue Securities LLC now owns 17,473 shares of the insurance provider’s stock valued at $2,511,000 after buying an additional 78 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Cincinnati Financial by 7.4% during the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after buying an additional 79 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 0.7 %

Shares of Cincinnati Financial stock opened at $136.96 on Friday. The stock has a market capitalization of $21.41 billion, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. Cincinnati Financial Co. has a 12-month low of $105.75 and a 12-month high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $144.16 and a 200 day simple moving average of $139.87.

Cincinnati Financial Increases Dividend

The business also recently declared 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 is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a yield of 2.54%. Cincinnati Financial’s dividend payout ratio is 16.65%.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, the director now directly owns 54,500 shares in the company, valued at $8,566,855. The trade was a 1.87 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CINF shares. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler raised their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

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.