Cincinnati Financial Co. (NASDAQ:CINF) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 49.5% in the third quarter, Holdings Channel reports. The institutional investor owned 445,337 shares of the insurance provider’s stock after acquiring an additional 147,542 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cincinnati Financial were worth $60,619,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CINF. Brown Brothers Harriman & Co. grew its stake in Cincinnati Financial by 2.1% in the third quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock worth $460,000 after purchasing an additional 68 shares in the last quarter. Wealth Dimensions Group Ltd. increased its stake in Cincinnati Financial by 0.9% during the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock valued at $1,098,000 after purchasing an additional 75 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Cincinnati Financial by 7.4% in the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock worth $155,000 after buying an additional 79 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after buying an additional 80 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 80 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the transaction, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Trading Down 0.3 %

Cincinnati Financial stock opened at $142.10 on Friday. The stock has a market capitalization of $22.21 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 2.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 12-month low of $104.78 and a 12-month high of $161.74. The firm has a 50 day simple moving average of $149.30 and a 200-day simple moving average of $136.26.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $1.66 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts expect that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be given a $0.81 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.28%. Cincinnati Financial’s dividend payout ratio (DPR) is 16.65%.

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.