Goldman Sachs Group Inc. Has $128.87 Million Holdings in Cincinnati Financial Corporation $CINF

Goldman Sachs Group Inc. cut its position in Cincinnati Financial Corporation (NASDAQ:CINFFree Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 789,036 shares of the insurance provider’s stock after selling 21,201 shares during the period. Goldman Sachs Group Inc. owned 0.51% of Cincinnati Financial worth $128,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Cincinnati Financial by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider’s stock valued at $3,221,579,000 after buying an additional 123,110 shares in the last quarter. State Street Corp boosted its position in Cincinnati Financial by 0.3% in the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after buying an additional 26,475 shares in the last quarter. Geode Capital Management LLC boosted its position in Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after buying an additional 25,888 shares in the last quarter. Bank of America Corp DE boosted its position in Cincinnati Financial by 4.2% in 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 buying an additional 80,487 shares in the last quarter. Finally, Norges Bank acquired a new position in Cincinnati Financial in the fourth quarter valued at about $270,892,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler boosted their price target 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. Keefe, Bruyette & Woods boosted their price target 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. 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. Bank of America reduced their price target 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. Finally, Roth Mkm boosted their price target 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. One investment 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. Based on data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Buy” and a consensus target price of $183.25.

Check Out Our Latest Analysis on CINF

Cincinnati Financial Price Performance

Shares of CINF stock opened at $162.25 on Tuesday. Cincinnati Financial Corporation has a 1 year low of $143.37 and a 1 year high of $174.27. The firm’s 50 day moving average is $162.86 and its 200-day moving average is $163.42. The firm has a market capitalization of $25.10 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 3.59 and a beta of 0.57. 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:CINFGet Free Report) last announced its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the business earned ($0.24) earnings per share. Cincinnati Financial’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

About Cincinnati Financial

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

Receive News & Ratings for Cincinnati Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial and related companies with MarketBeat.com's FREE daily email newsletter.