Cincinnati Financial Corporation $CINF Shares Sold by US Bancorp DE

US Bancorp DE cut its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 444,485 shares of the insurance provider’s stock after selling 22,219 shares during the period. US Bancorp DE owned approximately 0.28% of Cincinnati Financial worth $70,273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cibc World Market Inc. acquired a new stake in Cincinnati Financial during the third quarter worth $2,511,000. Strs Ohio lifted its stake in shares of Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after purchasing an additional 71,378 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Cincinnati Financial during the 3rd quarter worth $1,622,000. AE Wealth Management LLC increased its position in shares of Cincinnati Financial by 1,102.8% during the 3rd quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock worth $8,063,000 after purchasing an additional 46,757 shares during the last quarter. Finally, Narwhal Capital Management increased its position in shares of Cincinnati Financial by 62.4% during the 3rd quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock worth $7,109,000 after purchasing an additional 17,276 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of CINF opened at $165.20 on Friday. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $174.27. The stock has a market capitalization of $25.71 billion, a PE ratio of 10.89, a PEG ratio of 3.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a 50-day simple moving average of $163.36 and a 200-day simple moving average of $160.26.

Cincinnati Financial (NASDAQ:CINF) last issued its 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. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the company earned $3.14 earnings per share. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

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