Mechanics Financial Corp Boosts Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Mechanics Financial Corp grew its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 647.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 747 shares of the insurance provider’s stock after buying an additional 647 shares during the period. Mechanics Financial Corp’s holdings in Cincinnati Financial were worth $107,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in Cincinnati Financial during the 3rd quarter worth about $151,000. Cerity Partners LLC boosted its stake in shares of Cincinnati Financial by 43.7% during the 3rd quarter. Cerity Partners LLC now owns 31,788 shares of the insurance provider’s stock worth $4,327,000 after purchasing an additional 9,671 shares during the last quarter. FMR LLC grew its holdings in shares of Cincinnati Financial by 12.8% during the third quarter. FMR LLC now owns 193,400 shares of the insurance provider’s stock worth $26,326,000 after buying an additional 21,900 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Cincinnati Financial by 159.6% in the third quarter. Townsquare Capital LLC now owns 4,701 shares of the insurance provider’s stock valued at $640,000 after buying an additional 2,890 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Cincinnati Financial during the third quarter valued at approximately $5,309,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several recent analyst reports. Roth Mkm lifted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $154.20.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $145.55 on Friday. The company has a market cap of $22.79 billion, a P/E ratio of 10.02, a P/E/G ratio of 8.30 and a beta of 0.66. The firm’s 50 day moving average is $140.57 and its two-hundred day moving average is $142.69. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.75. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.87 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s payout ratio is currently 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.