The Manufacturers Life Insurance Company Sells 5,398 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

The Manufacturers Life Insurance Company lowered its position in shares of Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 231,012 shares of the insurance provider’s stock after selling 5,398 shares during the period. The Manufacturers Life Insurance Company owned about 0.15% of Cincinnati Financial worth $23,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. London Co. of Virginia grew its position in Cincinnati Financial by 7.8% during the 3rd quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock worth $283,658,000 after acquiring an additional 200,414 shares during the last quarter. Norges Bank bought a new stake in Cincinnati Financial during the 4th quarter worth $179,305,000. Northern Trust Corp grew its position in Cincinnati Financial by 2.0% during the 3rd quarter. Northern Trust Corp now owns 1,732,270 shares of the insurance provider’s stock worth $177,194,000 after acquiring an additional 33,942 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in Cincinnati Financial by 2.6% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,353,199 shares of the insurance provider’s stock worth $138,419,000 after acquiring an additional 34,880 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Cincinnati Financial by 16.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock worth $134,077,000 after acquiring an additional 186,629 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CINF shares. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler reiterated a “neutral” rating and issued a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Finally, Citigroup upped their price target on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $126.00.

View Our Latest Report on CINF

Insider Buying and Selling

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $113.47 per share, with a total value of $113,470.00. Following the purchase, the director now owns 53,988 shares in the company, valued at $6,126,018.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.83% of the stock is owned by company insiders.

Cincinnati Financial Stock Up 0.9 %

Shares of Cincinnati Financial stock opened at $115.97 on Friday. Cincinnati Financial Co. has a one year low of $95.01 and a one year high of $124.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The stock’s 50-day moving average is $117.90 and its 200 day moving average is $112.50. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 2.45 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The business had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business earned $0.89 EPS. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. Equities research analysts anticipate that Cincinnati Financial Co. will post 6.37 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

Cincinnati Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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