Massachusetts Financial Services Co. MA Has $86.43 Million Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Massachusetts Financial Services Co. MA increased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 0.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 844,929 shares of the insurance provider’s stock after purchasing an additional 1,077 shares during the period. Massachusetts Financial Services Co. MA owned 0.54% of Cincinnati Financial worth $86,428,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Providence Capital Advisors LLC boosted its stake in Cincinnati Financial by 11,107.1% during the first quarter. Providence Capital Advisors LLC now owns 3,138 shares of the insurance provider’s stock valued at $28,000 after buying an additional 3,110 shares during the period. Mendota Financial Group LLC bought a new position in shares of Cincinnati Financial in the second quarter worth approximately $29,000. AM Squared Ltd purchased a new stake in Cincinnati Financial in the first quarter valued at approximately $34,000. Clear Street Markets LLC lifted its position in Cincinnati Financial by 93.1% during the first quarter. Clear Street Markets LLC now owns 309 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 149 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in Cincinnati Financial in the 4th quarter worth approximately $37,000. 64.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CINF. Piper Sandler upped their target price on shares of Cincinnati Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Oppenheimer assumed coverage on Cincinnati Financial in a research note on Thursday, November 16th. They issued a “market perform” rating for the company. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday. Janney Montgomery Scott began coverage on shares of Cincinnati Financial in a research note on Thursday, December 14th. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Citigroup started coverage on Cincinnati Financial in a research note on Wednesday, November 22nd. They set a “neutral” rating and a $110.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $113.67.

Read Our Latest Report on Cincinnati Financial

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 2,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average cost of $102.98 per share, with a total value of $205,960.00. Following the completion of the acquisition, the director now owns 51,542 shares of the company’s stock, valued at $5,307,795.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.95% of the stock is owned by insiders.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $107.03 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average of $106.42 and a 200 day moving average of $104.62. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.22 and a beta of 0.63. Cincinnati Financial Co. has a 52 week low of $95.01 and a 52 week high of $130.66.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last announced its earnings results on Tuesday, February 6th. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.82% and a net margin of 18.41%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company earned $1.27 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect that Cincinnati Financial Co. will post 6.06 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th will be paid a $0.81 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, March 18th. Cincinnati Financial’s dividend payout ratio is currently 25.71%.

Cincinnati Financial Company Profile

(Free Report)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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.

Featured Stories

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Co. (NASDAQ:CINFFree Report).

Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

Receive News & Ratings for Cincinnati Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial and related companies with MarketBeat.com's FREE daily email newsletter.