Sequoia Financial Advisors LLC Acquires Shares of 2,489 Cincinnati Financial Co. (NASDAQ:CINF)

Sequoia Financial Advisors LLC acquired a new stake in Cincinnati Financial Co. (NASDAQ:CINF) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,489 shares of the insurance provider’s stock, valued at approximately $257,000.

Several other large investors also recently bought and sold shares of CINF. Norges Bank acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $149,585,000. Los Angeles Capital Management LLC grew its position in Cincinnati Financial by 554.7% in the third quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock valued at $113,470,000 after acquiring an additional 939,861 shares in the last quarter. Select Equity Group L.P. grew its position in Cincinnati Financial by 294.9% in the fourth quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock valued at $60,350,000 after acquiring an additional 440,158 shares in the last quarter. State Street Corp grew its position in Cincinnati Financial by 4.1% in the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock valued at $1,246,056,000 after acquiring an additional 360,552 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Cincinnati Financial by 1,870.3% in the third quarter. AQR Capital Management LLC now owns 274,030 shares of the insurance provider’s stock valued at $28,031,000 after acquiring an additional 260,122 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CINF shares. Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Citigroup raised their price target on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Cincinnati Financial has an average rating of “Hold” and an average price target of $123.57.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $119.95 on Friday. The company has a market cap of $18.79 billion, a PE ratio of 10.28, a P/E/G ratio of 2.37 and a beta of 0.63. The company has a fifty day moving average price of $116.99 and a two-hundred day moving average price of $108.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 12 month low of $95.01 and a 12 month high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.33. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 earnings per share. Research analysts expect that Cincinnati Financial Co. will post 6.2 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Monday, March 18th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is currently 27.76%.

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.