Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Cincinnati Financial Corporation $CINF

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 9,507 shares of the insurance provider’s stock, valued at approximately $1,503,000.

Other hedge funds also recently modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Cincinnati Financial in the 3rd quarter worth $29,000. Redmont Wealth Advisors LLC bought a new position in Cincinnati Financial during the third quarter valued at about $30,000. Quent Capital LLC acquired a new position in Cincinnati Financial during the third quarter worth about $34,000. Field & Main Bank acquired a new position in Cincinnati Financial during the third quarter worth about $47,000. Finally, SJS Investment Consulting Inc. raised its position in Cincinnati Financial by 2,538.5% in the third quarter. SJS Investment Consulting Inc. now owns 343 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 330 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 1.3%

Shares of CINF opened at $163.32 on Tuesday. The business’s 50-day moving average price is $163.43 and its 200 day moving average price is $161.08. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $25.42 billion, a P/E ratio of 10.77, a P/E/G ratio of 3.68 and a beta of 0.63. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the firm earned $3.14 earnings per share. The business’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a $0.94 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial’s payout ratio is currently 22.94%.

Analyst Ratings Changes

Several research firms have recently weighed in on CINF. Piper Sandler raised their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $174.33.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.