Topsail Wealth Management LLC trimmed its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 297,642 shares of the insurance provider’s stock after selling 19,360 shares during the quarter. Cincinnati Financial makes up 7.2% of Topsail Wealth Management LLC’s portfolio, making the stock its 5th largest position. Topsail Wealth Management LLC’s holdings in Cincinnati Financial were worth $48,870,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CINF. Bison Wealth LLC bought a new stake in Cincinnati Financial during the 4th quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cincinnati Financial by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after acquiring an additional 525 shares during the period. Goldman Sachs Group Inc. increased its holdings in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares during the period. Federated Hermes Inc. bought a new stake in Cincinnati Financial during the 2nd quarter worth approximately $101,000. Finally, Cerity Partners LLC increased its holdings in Cincinnati Financial by 10.8% during the 2nd quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after acquiring an additional 4,674 shares during the period. 65.24% of the stock is currently owned by institutional investors.
Cincinnati Financial Price Performance
CINF stock opened at $163.79 on Wednesday. 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 one year low of $143.37 and a one year high of $174.27. The stock has a market cap of $25.34 billion, a PE ratio of 9.36, a P/E/G ratio of 3.55 and a beta of 0.59. The firm has a 50 day simple moving average of $162.57 and a two-hundred day simple moving average of $162.86.
Cincinnati Financial Dividend Announcement
The business also recently declared 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 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is currently 21.50%.
Wall Street Analyst Weigh In
CINF has been the topic of a number of analyst reports. Roth Mkm upped their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Bank of America decreased their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. One 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. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $178.75.
Check Out Our Latest Research Report on Cincinnati Financial
About Cincinnati Financial
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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