NEOS Investment Management LLC Boosts Position in Cincinnati Financial Co. (NASDAQ:CINF)

NEOS Investment Management LLC lifted its position in Cincinnati Financial Co. (NASDAQ:CINF) by 25.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,074 shares of the insurance provider’s stock after purchasing an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in Cincinnati Financial were worth $873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oak Thistle LLC raised its position in Cincinnati Financial by 177.8% in the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock valued at $1,232,000 after purchasing an additional 5,485 shares during the period. World Investment Advisors LLC purchased a new stake in Cincinnati Financial in the 3rd quarter valued at about $546,000. JPMorgan Chase & Co. lifted its position in Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after buying an additional 147,542 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Cincinnati Financial by 2.7% during the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock worth $26,019,000 after buying an additional 5,097 shares during the period. Finally, New York Life Investment Management LLC increased its position in shares of Cincinnati Financial by 11.5% during the fourth quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider’s stock valued at $3,322,000 after acquiring an additional 2,383 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $145.55 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.75. 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’s 50 day moving average is $140.57 and its two-hundred day moving average is $142.79.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating 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%. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s dividend payout ratio is presently 23.97%.

Wall Street Analyst Weigh In

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

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.