Cincinnati Financial Co. (NASDAQ:CINF) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 2.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,030,017 shares of the insurance provider’s stock after buying an additional 27,301 shares during the period. Bank of New York Mellon Corp’s holdings in Cincinnati Financial were worth $148,013,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new stake in Cincinnati Financial during the third quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Cincinnati Financial during the fourth quarter valued at $27,000. Legacy Investment Solutions LLC bought a new stake in Cincinnati Financial during the third quarter valued at $28,000. Y.D. More Investments Ltd increased its stake in Cincinnati Financial by 121.8% during the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 106 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in Cincinnati Financial during the third quarter valued at $42,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Roth Mkm boosted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average target price of $151.00.

Cincinnati Financial Stock Up 2.3 %

Cincinnati Financial stock opened at $147.81 on Friday. The company has a 50-day simple moving average of $139.71 and a 200-day simple moving average of $141.22. The firm has a market capitalization of $23.10 billion, a P/E ratio of 10.18, a P/E/G ratio of 8.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. Cincinnati Financial Co. has a one year low of $109.93 and a one year high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. As a group, equities analysts expect that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is currently 23.97%.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the transaction, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is currently owned by insiders.

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.