Cincinnati Financial Corporation $CINF Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,598 shares of the insurance provider’s stock after selling 4,689 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cincinnati Financial were worth $25,064,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in Cincinnati Financial during the second quarter worth approximately $235,714,000. Raymond James Financial Inc. boosted its stake in Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares in the last quarter. Amundi increased its position in shares of Cincinnati Financial by 113.6% during the 2nd quarter. Amundi now owns 454,996 shares of the insurance provider’s stock valued at $66,479,000 after purchasing an additional 242,020 shares during the period. Korea Investment CORP increased its position in shares of Cincinnati Financial by 210.0% during the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after purchasing an additional 199,437 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 buying an additional 173,343 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Down 1.2%

Shares of Cincinnati Financial stock opened at $158.27 on Wednesday. The stock’s fifty day moving average is $163.23 and its 200-day moving average is $161.72. The firm has a market capitalization of $24.64 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 3.57 and a beta of 0.63. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.Cincinnati Financial’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the company posted $3.14 EPS. Equities analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be issued a $0.94 dividend. The ex-dividend date is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a dividend yield of 2.4%. Cincinnati Financial’s dividend payout ratio is 22.94%.

Analyst Ratings Changes

Several brokerages recently weighed in on CINF. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Piper Sandler boosted their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial has an average rating of “Buy” and an average price target of $174.33.

Cincinnati Financial 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.