Point72 Asset Management L.P. Raises Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Point72 Asset Management L.P. raised its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 20.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 113,630 shares of the insurance provider's stock after acquiring an additional 19,630 shares during the period. Point72 Asset Management L.P. owned approximately 0.07% of Cincinnati Financial worth $16,329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $223,959,000. Topsail Wealth Management LLC bought a new stake in Cincinnati Financial in the 4th quarter worth approximately $47,114,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Cincinnati Financial by 62.6% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock valued at $90,166,000 after buying an additional 241,540 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cincinnati Financial by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock valued at $863,099,000 after buying an additional 224,033 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Cincinnati Financial by 26.7% during the 4th quarter. First Trust Advisors LP now owns 980,582 shares of the insurance provider's stock valued at $140,910,000 after buying an additional 206,693 shares during the period. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen upgraded Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price objective on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, 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 note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $147.40.

Cincinnati Financial Price Performance

CINF stock traded up $0.10 during trading on Friday, reaching $145.40. The company's stock had a trading volume of 61,146 shares, compared to its average volume of 663,171. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The company's fifty day moving average is $140.80 and its 200-day moving average is $143.26. The company has a market capitalization of $22.73 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 8.30 and a beta of 0.73. 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 released its earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.37. The firm had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.70 billion. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. The firm's revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $1.72 earnings per share. On average, research analysts expect that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial's dividend payout ratio (DPR) is presently 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.