Pictet Asset Management Holding SA Cuts Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Pictet Asset Management Holding SA cut its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,232 shares of the insurance provider’s stock after selling 262 shares during the period. Pictet Asset Management Holding SA’s holdings in Cincinnati Financial were worth $10,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cincinnati Financial in the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new position in Cincinnati Financial in the third quarter worth approximately $28,000. Y.D. More Investments Ltd grew its holdings in Cincinnati Financial by 121.8% during the 4th 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 in the last quarter. Quarry LP purchased a new stake in shares of Cincinnati Financial in the 3rd quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Cincinnati Financial by 157.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 205 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $147.59 on Thursday. The company has a fifty day moving average of $141.05 and a two-hundred day moving average of $142.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. Cincinnati Financial Co. has a 1 year low of $109.93 and a 1 year high of $161.75. The company has a market capitalization of $23.11 billion, a PE ratio of 10.16, a P/E/G ratio of 8.30 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (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, analysts expect that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.87 dividend. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. This represents a $3.48 annualized dividend and a yield of 2.36%. Cincinnati Financial’s dividend payout ratio is 23.97%.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of analyst reports. Roth Mkm boosted 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. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and an average price target of $154.20.

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.