Convergence Investment Partners LLC Makes New $210,000 Investment in Cincinnati Financial Co. (NASDAQ:CINF)

Convergence Investment Partners LLC bought a new position in Cincinnati Financial Co. (NASDAQ:CINF) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,462 shares of the insurance provider’s stock, valued at approximately $210,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new stake in shares of Cincinnati Financial during the third quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new stake in shares of Cincinnati Financial during the third quarter valued at approximately $28,000. Y.D. More Investments Ltd increased its holdings in shares of Cincinnati Financial by 121.8% during the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 106 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Cincinnati Financial during the third quarter valued at approximately $42,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Trading Down 0.1 %

NASDAQ:CINF opened at $136.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 8.38 and a beta of 0.71. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.74. The firm has a 50-day moving average price of $141.09 and a two-hundred day moving average price of $140.71.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. On average, equities analysts expect that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

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 paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a dividend yield of 2.55%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio (DPR) is presently 22.31%.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the purchase, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Roth Mkm boosted their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Piper Sandler increased their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $151.00.

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.