Resona Asset Management Co. Ltd. Boosts Stake in Cincinnati Financial Corporation $CINF

Resona Asset Management Co. Ltd. boosted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,669 shares of the insurance provider’s stock after acquiring an additional 3,362 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Cincinnati Financial were worth $9,573,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. ORG Partners LLC grew its position in shares of Cincinnati Financial by 5.0% in the second quarter. ORG Partners LLC now owns 1,509 shares of the insurance provider’s stock valued at $226,000 after purchasing an additional 72 shares in the last quarter. Forum Financial Management LP grew its holdings in Cincinnati Financial by 2.1% in the 2nd quarter. Forum Financial Management LP now owns 3,949 shares of the insurance provider’s stock valued at $588,000 after buying an additional 80 shares in the last quarter. PCA Investment Advisory Services Inc. increased its stake in shares of Cincinnati Financial by 0.7% in the 2nd quarter. PCA Investment Advisory Services Inc. now owns 10,935 shares of the insurance provider’s stock worth $1,628,000 after acquiring an additional 81 shares during the last quarter. 3Chopt Investment Partners LLC raised its holdings in shares of Cincinnati Financial by 5.7% during the 2nd quarter. 3Chopt Investment Partners LLC now owns 1,641 shares of the insurance provider’s stock worth $246,000 after acquiring an additional 89 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Cincinnati Financial by 51.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 96 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $164.64 on Friday. The company’s 50 day simple moving average is $156.62 and its 200-day simple moving average is $151.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.30. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $166.90. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 4.27 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $1.42 EPS. As a group, equities research analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, September 22nd. Cincinnati Financial’s payout ratio is currently 25.89%.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was bought at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the acquisition, the director directly owned 58,482 shares of the company’s stock, valued at $9,005,058.36. The trade was a 1.74% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Roth Capital restated a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $171.67.

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.