Franklin Resources Inc. Has $21.63 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Franklin Resources Inc. lifted its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 38.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,515 shares of the insurance provider’s stock after acquiring an additional 41,932 shares during the quarter. Franklin Resources Inc. owned approximately 0.10% of Cincinnati Financial worth $21,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CINF. Oak Thistle LLC increased its position in Cincinnati Financial by 177.8% in the 4th quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after purchasing an additional 5,485 shares during the last quarter. World Investment Advisors LLC bought a new position in Cincinnati Financial during the third quarter valued at approximately $546,000. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 147,542 shares during the last quarter. Principal Financial Group Inc. grew its position in Cincinnati Financial by 2.7% in the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock worth $26,019,000 after acquiring an additional 5,097 shares in the last quarter. Finally, New York Life Investment Management LLC raised its holdings in shares of Cincinnati Financial by 11.5% during the 4th quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider’s stock valued at $3,322,000 after purchasing an additional 2,383 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Trading Down 9.0 %

Shares of NASDAQ:CINF opened at $131.69 on Monday. 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 stock’s 50-day moving average is $141.11 and its 200-day moving average is $143.06. The company has a market cap of $20.62 billion, a P/E ratio of 9.07, a P/E/G ratio of 8.30 and a beta of 0.53. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.75.

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%. Equities research analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The business 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 is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.64%. 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

A number of equities research analysts recently issued reports on CINF shares. Roth Mkm upped their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their target price on 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 four have assigned a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial currently has a consensus 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.