Norges Bank Buys New Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Norges Bank purchased a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,558,520 shares of the insurance provider’s stock, valued at approximately $223,959,000. Norges Bank owned 1.00% of Cincinnati Financial as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Cincinnati Financial in the fourth quarter valued at about $27,000. Legacy Investment Solutions LLC bought a new position in Cincinnati Financial in the 3rd quarter valued at about $28,000. Y.D. More Investments Ltd lifted its position in Cincinnati Financial by 121.8% during the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 106 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Cincinnati Financial during the third quarter worth approximately $42,000. Finally, Quarry LP acquired a new position in shares of Cincinnati Financial in the third quarter valued at approximately $43,000. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Roth Mkm boosted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $154.20.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $145.55 on Monday. The firm has a market cap of $22.79 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The stock’s fifty day moving average price is $140.57 and its two-hundred day moving average price is $142.79. Cincinnati Financial Co. has a one year low of $109.93 and a one year high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. As a group, research analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is 23.97%.

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.