Ascent Group LLC Reduces Stock Holdings in Cincinnati Financial Corporation $CINF

Ascent Group LLC reduced its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,916 shares of the insurance provider’s stock after selling 4,720 shares during the period. Ascent Group LLC’s holdings in Cincinnati Financial were worth $2,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bison Wealth LLC acquired a new position in Cincinnati Financial during the 4th quarter valued at approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after acquiring an additional 525 shares during the period. Goldman Sachs Group Inc. raised its stake in Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Cincinnati Financial by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,584 shares of the insurance provider’s stock worth $1,129,000 after acquiring an additional 1,119 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Cincinnati Financial by 4.7% during the 2nd quarter. Schroder Investment Management Group now owns 12,480 shares of the insurance provider’s stock worth $1,859,000 after acquiring an additional 563 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CINF. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Piper Sandler upped their target price on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, March 24th. Finally, Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $158.41 on Monday. The stock has a 50-day simple moving average of $162.55 and a two-hundred day simple moving average of $161.86. The firm has a market capitalization of $24.66 billion, a P/E ratio of 10.44, a PEG ratio of 3.53 and a beta of 0.63. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.51. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.92 billion. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The company’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.14 earnings per share. On average, equities analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio is 24.79%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.