FJ Capital Management LLC Decreases Position in Cincinnati Financial Corporation $CINF

FJ Capital Management LLC cut its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 26.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,836 shares of the insurance provider’s stock after selling 11,835 shares during the quarter. FJ Capital Management LLC’s holdings in Cincinnati Financial were worth $5,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cibc World Market Inc. purchased a new position in Cincinnati Financial in the 3rd quarter valued at about $2,511,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Cincinnati Financial in the 3rd quarter valued at about $1,503,000. Swiss Life Asset Management Ltd lifted its stake in Cincinnati Financial by 240.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 35,106 shares of the insurance provider’s stock valued at $5,550,000 after buying an additional 24,790 shares in the last quarter. Barclays PLC lifted its stake in Cincinnati Financial by 18.6% in the 3rd quarter. Barclays PLC now owns 594,042 shares of the insurance provider’s stock valued at $93,918,000 after buying an additional 93,254 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cincinnati Financial by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,471,628 shares of the insurance provider’s stock valued at $232,643,000 after buying an additional 46,426 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CINF. Roth Mkm raised their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Bank of America cut their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Piper Sandler increased their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus target price of $183.25.

Cincinnati Financial Stock Up 0.4%

CINF stock opened at $169.01 on Friday. The company has a market cap of $26.14 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 3.67 and a beta of 0.57. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12 month low of $143.37 and a 12 month high of $174.27. The firm has a 50-day moving average of $163.71 and a two-hundred day moving average of $163.51.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) EPS. As a group, analysts forecast that Cincinnati Financial Corporation will post 8.61 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.50%.

About Cincinnati Financial

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.