Mediolanum International Funds Ltd Makes New Investment in Cincinnati Financial Co. (NASDAQ:CINF)

Mediolanum International Funds Ltd bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,501 shares of the insurance provider’s stock, valued at approximately $1,642,000.

Several other institutional investors and hedge funds have also modified their holdings of CINF. Charles Schwab Investment Management Inc. boosted its holdings in Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Cincinnati Financial by 2.6% in the third quarter. Boston Trust Walden Corp now owns 777,588 shares of the insurance provider’s stock valued at $105,845,000 after buying an additional 19,793 shares during the period. Barclays PLC grew its position in Cincinnati Financial by 13.1% during the third quarter. Barclays PLC now owns 534,361 shares of the insurance provider’s stock worth $72,736,000 after buying an additional 61,801 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after acquiring an additional 147,542 shares during the period. Finally, Vest Financial LLC raised its holdings in Cincinnati Financial by 10.4% in the 3rd quarter. Vest Financial LLC now owns 418,066 shares of the insurance provider’s stock valued at $56,907,000 after acquiring an additional 39,349 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 1.4 %

CINF opened at $137.05 on Monday. The company has a market cap of $21.42 billion, a P/E ratio of 7.04, a PEG ratio of 2.43 and a beta of 0.71. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $146.00 and its 200-day moving average is $139.63. Cincinnati Financial Co. has a 1-year low of $104.78 and a 1-year high of $161.74.

Cincinnati Financial Increases Dividend

The business 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 is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.54%. Cincinnati Financial’s dividend payout ratio is 16.65%.

Insider Activity

In other news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, the director now owns 54,500 shares of the company’s stock, valued at $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Piper Sandler boosted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

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.