Swiss National Bank Cuts Position in Cincinnati Financial Co. (NASDAQ:CINF)

Swiss National Bank lowered its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 4.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 441,300 shares of the insurance provider’s stock after selling 22,600 shares during the quarter. Swiss National Bank’s holdings in Cincinnati Financial were worth $63,415,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CINF. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Cincinnati Financial in the 4th quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Cincinnati Financial in the third quarter valued at about $28,000. Y.D. More Investments Ltd raised its holdings in shares of Cincinnati Financial by 121.8% during the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after buying an additional 106 shares during the period. True Wealth Design LLC acquired a new position in Cincinnati Financial during the 3rd quarter worth approximately $42,000. Finally, Quarry LP purchased a new position in Cincinnati Financial in the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CINF shares. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.00.

Cincinnati Financial Price Performance

Shares of CINF opened at $145.39 on Friday. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.75. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The firm has a market cap of $22.76 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 8.30 and a beta of 0.66. The stock has a 50 day moving average of $139.36 and a 200-day moving average of $142.05.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share 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%. As a group, analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed 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 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. This represents a $3.48 annualized dividend and a yield of 2.39%. Cincinnati Financial’s dividend payout ratio is 23.97%.

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.