DekaBank Deutsche Girozentrale Decreases Position in Cincinnati Financial Co. (NASDAQ:CINF)

DekaBank Deutsche Girozentrale decreased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,924 shares of the insurance provider’s stock after selling 287 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cincinnati Financial were worth $2,569,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CINF. Robeco Institutional Asset Management B.V. increased its holdings in shares of Cincinnati Financial by 11.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,522 shares of the insurance provider’s stock worth $2,508,000 after buying an additional 2,550 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $21,036,000. abrdn plc increased its holdings in shares of Cincinnati Financial by 18.9% during the 3rd quarter. abrdn plc now owns 46,897 shares of the insurance provider’s stock worth $4,797,000 after buying an additional 7,450 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Cincinnati Financial by 92.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 236,410 shares of the insurance provider’s stock worth $24,182,000 after buying an additional 113,653 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Cincinnati Financial by 163.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 63,647 shares of the insurance provider’s stock worth $6,510,000 after buying an additional 39,464 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of a number of research analyst reports. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a research report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.29.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $118.62 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 52 week low of $95.01 and a 52 week high of $124.35. The stock has a market capitalization of $18.58 billion, a PE ratio of 10.16, a P/E/G ratio of 2.45 and a beta of 0.63. The firm has a 50 day moving average of $116.21 and a two-hundred day moving average of $108.01.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the company posted $1.27 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, research analysts predict that Cincinnati Financial Co. will post 6.2 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.81 per share. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Monday, March 18th. Cincinnati Financial’s payout ratio is 27.76%.

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.