Prudential Financial Inc. Has $14.33 Million Position in Cincinnati Financial Corporation $CINF

Prudential Financial Inc. increased its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 7.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 96,240 shares of the insurance provider’s stock after acquiring an additional 6,757 shares during the quarter. Prudential Financial Inc.’s holdings in Cincinnati Financial were worth $14,332,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in Cincinnati Financial by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock worth $963,594,000 after buying an additional 106,266 shares during the period. American Century Companies Inc. boosted its position in shares of Cincinnati Financial by 5.4% in the second quarter. American Century Companies Inc. now owns 55,178 shares of the insurance provider’s stock valued at $8,217,000 after acquiring an additional 2,817 shares during the period. Rhumbline Advisers grew its stake in shares of Cincinnati Financial by 0.5% in the second quarter. Rhumbline Advisers now owns 292,264 shares of the insurance provider’s stock worth $43,524,000 after acquiring an additional 1,402 shares during the last quarter. Mufg Securities Americas Inc. increased its position in Cincinnati Financial by 25.1% during the second quarter. Mufg Securities Americas Inc. now owns 3,464 shares of the insurance provider’s stock worth $516,000 after acquiring an additional 696 shares during the period. Finally, MAI Capital Management raised its stake in Cincinnati Financial by 0.8% during the 2nd quarter. MAI Capital Management now owns 36,625 shares of the insurance provider’s stock valued at $5,454,000 after purchasing an additional 294 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $177.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, Roth Capital restated a “buy” rating and set a $175.00 price target on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Buy” and an average target price of $171.67.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $168.48 on Thursday. The firm has a market capitalization of $26.29 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 4.27 and a beta of 0.69. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $169.86. The firm has a 50-day moving average price of $159.48 and a 200 day moving average price of $153.24.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.84. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the company posted $1.42 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. Research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, December 22nd. Cincinnati Financial’s dividend payout ratio is currently 25.89%.

Insider Activity

In other news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, October 28th. The shares were bought at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the purchase, the director owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.83% of the company’s stock.

About Cincinnati Financial

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.