Erste Asset Management GmbH Sells 8,699 Shares of Cincinnati Financial Corporation $CINF

Erste Asset Management GmbH cut its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 66.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,485 shares of the insurance provider’s stock after selling 8,699 shares during the period. Erste Asset Management GmbH’s holdings in Cincinnati Financial were worth $701,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in Cincinnati Financial during the third quarter worth $29,000. Redmont Wealth Advisors LLC bought a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $30,000. AlphaQuest LLC boosted its position in Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 200 shares during the period. Quent Capital LLC acquired a new position in shares of Cincinnati Financial in the third quarter valued at $34,000. Finally, Field & Main Bank acquired a new position in shares of Cincinnati Financial in the third quarter valued at $47,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Piper Sandler increased their target price on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $174.33.

Cincinnati Financial Trading Down 0.7%

Shares of CINF stock opened at $163.98 on Monday. The stock has a market cap of $25.52 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 3.65 and a beta of 0.63. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $174.27. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $163.29 and a 200 day simple moving average of $160.47.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.51. The firm had revenue of $3.09 billion for 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%.The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company earned $3.14 EPS. On average, research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a dividend of $0.94 per share. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 22.94%.

Cincinnati Financial Company 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.