Legg Mason Asset Management Japan Co. Ltd. trimmed its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,300 shares of the insurance provider’s stock after selling 700 shares during the quarter. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Cincinnati Financial were worth $179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Mackay Shields LLC raised its stake in Cincinnati Financial by 41.7% during the fourth quarter. Mackay Shields LLC now owns 69,797 shares of the insurance provider’s stock valued at $5,404,000 after buying an additional 20,549 shares during the last quarter. MUFG Securities EMEA plc raised its stake in Cincinnati Financial by 721.8% during the fourth quarter. MUFG Securities EMEA plc now owns 33,700 shares of the insurance provider’s stock valued at $2,609,000 after buying an additional 29,599 shares during the last quarter. PRW Wealth Management LLC purchased a new position in Cincinnati Financial during the fourth quarter valued at $77,000. ERTS Wealth Advisors LLC purchased a new position in Cincinnati Financial during the fourth quarter valued at $73,000. Finally, BOKF NA raised its stake in Cincinnati Financial by 5.2% during the fourth quarter. BOKF NA now owns 9,882 shares of the insurance provider’s stock valued at $765,000 after buying an additional 486 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.
Cincinnati Financial stock opened at $85.62 on Monday. The firm has a market capitalization of $13.95 billion, a price-to-earnings ratio of 25.56 and a beta of 0.68. Cincinnati Financial Co. has a 12 month low of $66.33 and a 12 month high of $87.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.28 and a quick ratio of 0.28.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, March 20th will be issued a $0.56 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.62%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 63.28%.
In other Cincinnati Financial news, Director Dirk J. Debbink bought 351 shares of Cincinnati Financial stock in a transaction on Friday, February 15th. The stock was acquired at an average price of $85.48 per share, with a total value of $30,003.48. The purchase was disclosed in a document filed with the SEC, which is available at this link. 7.07% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Cincinnati Financial from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Wednesday, December 12th. Buckingham Research assumed coverage on Cincinnati Financial in a research note on Friday, December 14th. They set a “neutral” rating and a $80.00 price objective for the company. Credit Suisse Group upgraded Cincinnati Financial from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $75.00 to $90.00 in a research note on Wednesday, February 27th. Finally, BidaskClub raised Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $89.00.
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About Cincinnati Financial
Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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