Cincinnati Financial Corporation $CINF Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 26.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 33,489 shares of the insurance provider’s stock after selling 11,960 shares during the period. Commonwealth Equity Services LLC’s holdings in Cincinnati Financial were worth $5,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CINF. Norges Bank acquired a new stake in shares of Cincinnati Financial during the 4th quarter valued at approximately $270,892,000. Raymond James Financial Inc. lifted its position in shares of Cincinnati Financial by 48.6% during the 2nd 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 period. Korea Investment CORP lifted its position in shares of Cincinnati Financial by 210.0% during the 3rd 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. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Cincinnati Financial during the 4th quarter valued at approximately $32,692,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after acquiring an additional 173,343 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CINF shares. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 27th. Roth Mkm lifted their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Piper Sandler lifted their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Cincinnati Financial presently has a consensus rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Trading Up 2.9%

Shares of Cincinnati Financial stock opened at $165.29 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. Cincinnati Financial Corporation has a 1 year low of $143.37 and a 1 year high of $174.27. The company has a market capitalization of $25.57 billion, a P/E ratio of 9.45, a P/E/G ratio of 3.59 and a beta of 0.57. The business has a 50 day moving average price of $162.76 and a 200 day moving average price of $163.41.

Cincinnati Financial (NASDAQ:CINF) last released its 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. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.24) EPS. Sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is presently 21.50%.

Cincinnati Financial 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.