Mutual of America Capital Management LLC Reduces Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Mutual of America Capital Management LLC lowered its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,983 shares of the insurance provider’s stock after selling 953 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cincinnati Financial were worth $2,171,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CINF. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Cincinnati Financial by 11.6% in 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 period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Cincinnati Financial in the 4th quarter worth $21,036,000. abrdn plc lifted its holdings in shares of Cincinnati Financial by 18.9% in 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 period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cincinnati Financial by 163.2% in 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 period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Cincinnati Financial by 92.6% in 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 period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the subject of a number of analyst reports. Citigroup upped their price objective on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. Finally, Piper Sandler restated a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a research note 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. According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Hold” and a consensus target price of $123.57.

Cincinnati Financial Trading Up 2.1 %

Shares of NASDAQ:CINF opened at $119.95 on Friday. The business’s 50-day moving average is $116.99 and its 200 day moving average is $108.54. Cincinnati Financial Co. has a 1 year low of $95.01 and a 1 year high of $124.35. The firm has a market capitalization of $18.79 billion, a P/E ratio of 10.28, a P/E/G ratio of 2.41 and a beta of 0.63. 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 (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 the consensus estimate 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 period in the prior year, the company posted $1.27 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts predict that Cincinnati Financial Co. will post 6.23 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

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