Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Strs Ohio

Strs Ohio reduced its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.0% during the 4th quarter, HoldingsChannel reports. The firm owned 17,498 shares of the insurance provider’s stock after selling 178 shares during the quarter. Strs Ohio’s holdings in Cincinnati Financial were worth $1,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $31,000. AM Squared Ltd acquired a new position in shares of Cincinnati Financial during the 1st quarter worth approximately $34,000. Clear Street Markets LLC lifted its holdings in Cincinnati Financial by 93.1% in the first quarter. Clear Street Markets LLC now owns 309 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 149 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in Cincinnati Financial in the fourth quarter valued at approximately $37,000. Finally, Comerica Bank acquired a new position in Cincinnati Financial in the second quarter valued at approximately $350,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Up 2.1 %

Shares of NASDAQ CINF opened at $119.95 on Friday. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 2.41 and a beta of 0.63. 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 business’s 50 day moving average is $116.99 and its two-hundred day moving average is $108.54.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts predict that Cincinnati Financial Co. will post 6.23 EPS for the current year.

Cincinnati Financial Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on CINF. Citigroup upped their price objective on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Piper Sandler reiterated a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $125.00 to $135.00 in a report on Monday, March 25th. Finally, Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Hold” and an average price target of $123.57.

Cincinnati Financial Company 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.