Nomura Asset Management Co. Ltd. lessened its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 287,379 shares of the insurance provider’s stock after selling 27,432 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.18% of Cincinnati Financial worth $46,935,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bison Wealth LLC acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cincinnati Financial by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after purchasing an additional 525 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Cincinnati Financial in the second quarter valued at about $101,000. Finally, Cerity Partners LLC grew its position in shares of Cincinnati Financial by 10.8% in the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock valued at $7,115,000 after purchasing an additional 4,674 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Piper Sandler lifted their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Roth Mkm lifted their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Bank of America dropped their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of “Buy” and a consensus target price of $183.25.
Cincinnati Financial Stock Performance
CINF opened at $157.42 on Monday. The firm has a market capitalization of $24.35 billion, a PE ratio of 9.00, a PEG ratio of 3.42 and a beta of 0.57. Cincinnati Financial Corporation has a twelve month low of $143.37 and a twelve month high of $174.27. The firm’s 50-day moving average price is $162.59 and its 200 day moving average price is $163.60. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.24) earnings per share. As a group, sell-side analysts expect that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.4%. Cincinnati Financial’s payout ratio is presently 21.50%.
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.
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