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Mitsubishi UFJ Asset Management Co. Ltd. Has $46.66 Million Position in Cincinnati Financial Corporation (NASDAQ:CINF)

Cincinnati Financial logo with Finance background

Key Points

  • Mitsubishi UFJ Asset Management increased its holdings in Cincinnati Financial Corporation by 10.6%, acquiring an additional 30,387 shares during the 1st quarter, bringing its total to 315,857 shares valued at approximately $46.66 million.
  • Other institutional investors have also increased their stakes, with GAMMA Investing LLC raising their holdings by an unprecedented 15,698.7% and now owning 816,005 shares.
  • Cincinnati Financial reported a quarterly earnings per share (EPS) of $1.97, surpassing analysts' expectations by $0.58, while its revenue reached $2.48 billion, below the consensus estimate of $2.80 billion.
  • Want stock alerts on Cincinnati Financial? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,857 shares of the insurance provider's stock after purchasing an additional 30,387 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Cincinnati Financial worth $46,658,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of Cincinnati Financial by 12.7% in the first quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock valued at $1,161,000 after buying an additional 887 shares during the period. CWA Asset Management Group LLC raised its position in Cincinnati Financial by 4.1% in the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock worth $352,000 after acquiring an additional 94 shares in the last quarter. OLD Republic International Corp raised its position in Cincinnati Financial by 1.0% in the first quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock worth $58,955,000 after acquiring an additional 4,000 shares in the last quarter. Merit Financial Group LLC lifted its holdings in Cincinnati Financial by 88.4% in the 1st quarter. Merit Financial Group LLC now owns 8,047 shares of the insurance provider's stock valued at $1,189,000 after acquiring an additional 3,776 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Cincinnati Financial by 8.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 65,356 shares of the insurance provider's stock valued at $9,654,000 after purchasing an additional 5,159 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Down 0.3%

Shares of NASDAQ:CINF traded down $0.53 during midday trading on Thursday, hitting $153.48. 175,439 shares of the stock were exchanged, compared to its average volume of 693,232. The business's fifty day simple moving average is $148.35 and its two-hundred day simple moving average is $143.58. 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 Corporation has a 52-week low of $123.01 and a 52-week high of $161.74. The company has a market capitalization of $24.00 billion, a PE ratio of 13.31, a P/E/G ratio of 7.51 and a beta of 0.70.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the company earned $1.29 EPS. The firm's revenue was up 15.5% on a year-over-year basis. As a group, research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CINF. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Roth Capital upped their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $159.40.

Read Our Latest Research Report on CINF

About Cincinnati Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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