Lecap Asset Management Ltd. Invests $981,000 in Cincinnati Financial Co. (NASDAQ:CINF)

Lecap Asset Management Ltd. bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,483 shares of the insurance provider's stock, valued at approximately $981,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CINF. Vanguard Group Inc. lifted its holdings in shares of Cincinnati Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider's stock worth $2,453,379,000 after acquiring an additional 211,402 shares during the last quarter. State Street Corp lifted its holdings in shares of Cincinnati Financial by 4.1% in the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider's stock worth $1,246,056,000 after acquiring an additional 360,552 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cincinnati Financial by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 3,343,865 shares of the insurance provider's stock worth $373,978,000 after acquiring an additional 67,706 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Cincinnati Financial by 1.4% in the 1st quarter. Bank of America Corp DE now owns 3,037,811 shares of the insurance provider's stock worth $340,478,000 after acquiring an additional 42,128 shares during the last quarter. Finally, London Co. of Virginia lifted its holdings in shares of Cincinnati Financial by 7.8% in the 3rd quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider's stock worth $283,658,000 after acquiring an additional 200,414 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Down 0.5 %

Shares of NASDAQ:CINF traded down $0.55 during trading hours on Friday, reaching $118.62. The stock had a trading volume of 464,551 shares, compared to its average volume of 1,117,668. Cincinnati Financial Co. has a 1 year low of $95.01 and a 1 year high of $124.35. The firm's 50 day moving average is $116.21 and its 200-day moving average is $108.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 2.44 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.33. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The company's revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. Research analysts predict that Cincinnati Financial Co. will post 6.2 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, March 19th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.73%. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, March 18th. Cincinnati Financial's dividend payout ratio (DPR) is 27.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CINF shares. Piper Sandler reaffirmed a "neutral" rating and set a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an "outperform" rating in a research note on Wednesday. BMO Capital Markets raised shares of Cincinnati Financial from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. Finally, TheStreet raised shares of Cincinnati Financial from a "c+" rating to a "b" rating in a research note on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $121.29.

Cincinnati Financial 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.