Cincinnati Financial Corporation (NASDAQ:CINF) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,332 shares of the insurance provider's stock after acquiring an additional 16,854 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Cincinnati Financial worth $21,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management lifted its position in Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 76 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at about $30,000. GoalVest Advisory LLC boosted its stake in shares of Cincinnati Financial by 65.4% in the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after buying an additional 102 shares during the last quarter. Whipplewood Advisors LLC grew its holdings in Cincinnati Financial by 333.3% during the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock worth $38,000 after acquiring an additional 200 shares during the period. Finally, Capital Advisors Ltd. LLC raised its position in Cincinnati Financial by 5,000.0% during the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 250 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CINF has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their price objective on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.50.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF traded down $3.27 during midday trading on Wednesday, reaching $146.11. 539,512 shares of the company's stock traded hands, compared to its average volume of 722,911. The company has a fifty day simple moving average of $146.10 and a two-hundred day simple moving average of $142.09. Cincinnati Financial Corporation has a 1 year low of $114.75 and a 1 year high of $161.74. The company has a market cap of $22.84 billion, a P/E ratio of 15.93, a PEG ratio of 9.89 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted 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 business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. Equities analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial's payout ratio is 37.95%.

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.