Stock Yards Bank & Trust Co. Purchases 2,796 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Stock Yards Bank & Trust Co. lifted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 20.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,575 shares of the insurance provider’s stock after buying an additional 2,796 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Cincinnati Financial were worth $1,715,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CINF. Robeco Institutional Asset Management B.V. raised its stake in Cincinnati Financial by 11.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 24,522 shares of the insurance provider’s stock worth $2,508,000 after buying an additional 2,550 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Cincinnati Financial in the 4th quarter worth $21,036,000. abrdn plc lifted its stake in shares of Cincinnati Financial by 18.9% during the 3rd quarter. abrdn plc now owns 46,897 shares of the insurance provider’s stock worth $4,797,000 after purchasing an additional 7,450 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Cincinnati Financial by 92.6% during the third quarter. The Manufacturers Life Insurance Company now owns 236,410 shares of the insurance provider’s stock valued at $24,182,000 after purchasing an additional 113,653 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Cincinnati Financial by 163.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 63,647 shares of the insurance provider’s stock valued at $6,510,000 after purchasing an additional 39,464 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of CINF opened at $120.96 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The company’s fifty day moving average price is $117.20 and its 200-day moving average price is $108.73. 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 $18.95 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 2.42 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.68%. The ex-dividend date was Monday, March 18th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s dividend payout ratio is 27.76%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CINF. Citigroup increased their price target on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Piper Sandler reissued a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a research report on Monday, April 1st. Finally, TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.57.

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.