Mitsubishi UFJ Asset Management Co. Ltd. Purchases 10,483 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Cincinnati Financial by 3.0% in the fourth quarter, adding 10,483 shares and bringing its total holdings to 359,259 shares worth about $58.0 million.
• Cincinnati Financial reported strong quarterly results, with EPS of $2.10 topping estimates of $1.93 and revenue of $2.86 billion exceeding expectations; revenue also rose 11.6% year over year.
• The company announced a quarterly dividend of $0.94 per share, payable July 15, for an annualized yield of 2.3%, while analysts maintain a consensus Buy rating with an average target price of $178.75.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 359,259 shares of the insurance provider's stock after acquiring an additional 10,483 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.23% of Cincinnati Financial worth $58,017,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Bison Wealth LLC acquired a new position in shares of Cincinnati Financial during the fourth quarter valued at about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider's stock valued at $2,823,000 after purchasing an additional 525 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock valued at $83,889,000 after purchasing an additional 173,343 shares during the period. Federated Hermes Inc. acquired a new position in shares of Cincinnati Financial during the second quarter valued at about $101,000. Finally, Cerity Partners LLC raised its holdings in shares of Cincinnati Financial by 10.8% during the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider's stock valued at $7,115,000 after purchasing an additional 4,674 shares during the period. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Down 0.3%

Shares of CINF stock opened at $161.50 on Friday. Cincinnati Financial Corporation has a 52-week low of $143.37 and a 52-week high of $174.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The company has a 50-day simple moving average of $162.66 and a two-hundred day simple moving average of $162.71. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 3.52 and a beta of 0.59.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm posted ($0.24) EPS. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial's payout ratio is 21.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CINF shares. Bank of America dropped their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, April 21st. Roth Mkm upped their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of "Buy" and an average target price of $178.75.

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.

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