Sterling Capital Management LLC Decreases Holdings in Cincinnati Financial Corporation $CINF

Sterling Capital Management LLC decreased its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 40.4% in the first quarter, Holdings Channel reports. The fund owned 5,830 shares of the insurance provider’s stock after selling 3,951 shares during the quarter. Sterling Capital Management LLC’s holdings in Cincinnati Financial were worth $917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CINF. Norges Bank purchased a new stake in Cincinnati Financial during the fourth quarter valued at approximately $270,892,000. Arrowstreet Capital Limited Partnership boosted its stake in Cincinnati Financial by 193.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after buying an additional 396,086 shares during the period. First Trust Advisors LP increased its position in Cincinnati Financial by 38.5% during the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock valued at $215,562,000 after acquiring an additional 367,224 shares during the last quarter. Raymond James Financial Inc. increased its position in Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after acquiring an additional 262,715 shares during the last quarter. Finally, Korea Investment CORP raised its stake in shares of Cincinnati Financial by 210.0% in the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after acquiring an additional 199,437 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

CINF has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Piper Sandler raised their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Bank of America dropped their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Roth Mkm upped their target price on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Buy” and a consensus price target of $183.25.

Cincinnati Financial Stock Down 0.5%

Shares of CINF opened at $185.14 on Wednesday. The firm has a market capitalization of $28.64 billion, a P/E ratio of 10.59, a P/E/G ratio of 4.04 and a beta of 0.57. Cincinnati Financial Corporation has a 12-month low of $143.87 and a 12-month high of $187.40. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $167.05 and a 200-day moving average price of $164.44.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm posted ($0.24) EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s payout ratio 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.