First Trust Advisors LP Has $150.61 Million Stake in Cincinnati Financial Corporation $CINF

First Trust Advisors LP lowered its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 952,649 shares of the insurance provider’s stock after selling 34,460 shares during the quarter. First Trust Advisors LP’s holdings in Cincinnati Financial were worth $150,614,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CINF. Vanguard Group Inc. boosted its stake in Cincinnati Financial by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after acquiring an additional 317,033 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cincinnati Financial by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock valued at $963,594,000 after purchasing an additional 106,266 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Cincinnati Financial by 4.2% during the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock valued at $299,553,000 after purchasing an additional 80,487 shares during the period. Norges Bank bought a new position in shares of Cincinnati Financial during the 2nd quarter worth about $235,714,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Cincinnati Financial by 3.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,471,628 shares of the insurance provider’s stock worth $232,643,000 after purchasing an additional 46,426 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.6%

CINF opened at $165.39 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The firm has a market capitalization of $25.74 billion, a PE ratio of 10.90, a P/E/G ratio of 3.68 and a beta of 0.63. The company’s 50-day moving average is $163.47 and its 200 day moving average is $160.96.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.51. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.14 EPS. As a group, research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.