Cincinnati Financial Co. (NASDAQ:CINF) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 55.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,338 shares of the insurance provider's stock after purchasing an additional 19,653 shares during the period. Mackenzie Financial Corp's holdings in Cincinnati Financial were worth $7,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CINF. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Cincinnati Financial in the fourth quarter worth about $27,000. Y.D. More Investments Ltd increased its position in shares of Cincinnati Financial by 121.8% during the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider's stock worth $28,000 after acquiring an additional 106 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Cincinnati Financial by 157.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider's stock worth $48,000 after acquiring an additional 205 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Cincinnati Financial during the fourth quarter worth approximately $50,000. Finally, Kentucky Trust Co purchased a new position in shares of Cincinnati Financial during the fourth quarter worth approximately $51,000. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Up 0.0%

CINF stock traded up $0.02 during trading on Friday, hitting $149.99. 1,106,734 shares of the company's stock traded hands, compared to its average volume of 664,526. The firm has a market capitalization of $23.44 billion, a P/E ratio of 10.33, a PEG ratio of 8.30 and a beta of 0.73. The business has a fifty day simple moving average of $141.05 and a two-hundred day simple moving average of $143.16. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 1 year low of $111.92 and a 1 year high of $161.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.37. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. Cincinnati Financial's revenue was up 13.2% compared to the same quarter last year. During the same period last year, the company posted $1.72 earnings per share. Sell-side analysts anticipate that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, June 23rd. Cincinnati Financial's dividend payout ratio is currently 37.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CINF shares. Roth Mkm raised their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods reduced their target price on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $147.40.

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.