Cedrus LLC Sells 175 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Cedrus LLC lowered its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,340 shares of the insurance provider’s stock after selling 175 shares during the period. Cedrus LLC’s holdings in Cincinnati Financial were worth $346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new stake in shares of Cincinnati Financial in the fourth quarter valued at approximately $257,000. Tobam raised its position in shares of Cincinnati Financial by 23.6% in the fourth quarter. Tobam now owns 1,209 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Cincinnati Financial by 2.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,062 shares of the insurance provider’s stock valued at $1,662,000 after purchasing an additional 353 shares during the period. Pinion Investment Advisors LLC raised its position in shares of Cincinnati Financial by 2.9% in the fourth quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock valued at $374,000 after purchasing an additional 101 shares during the period. Finally, Narwhal Capital Management raised its position in shares of Cincinnati Financial by 51.2% in the fourth quarter. Narwhal Capital Management now owns 52,611 shares of the insurance provider’s stock valued at $5,443,000 after purchasing an additional 17,817 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $119.17 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 1-year low of $95.01 and a 1-year high of $124.35. The firm has a market capitalization of $18.67 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.63. The firm’s 50 day simple moving average is $116.08 and its 200 day simple moving average is $107.91.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.33. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the company earned $1.27 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts expect that Cincinnati Financial Co. will post 6.18 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Monday, March 18th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is currently 27.76%.

Analyst Ratings Changes

Several analysts have recently issued reports on CINF shares. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday. Janney Montgomery Scott started coverage on shares of Cincinnati Financial in a report on Thursday, December 14th. They set a “neutral” rating and a $110.00 target price on the stock. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $121.29.

About Cincinnati Financial

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.