JPMorgan Chase & Co. Has $59.68 Million Position in Cincinnati Financial Corporation $CINF

JPMorgan Chase & Co. cut its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,500 shares of the insurance provider’s stock after selling 16,096 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.24% of Cincinnati Financial worth $59,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in Cincinnati Financial in the 3rd quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new position in Cincinnati Financial in the third quarter worth approximately $30,000. Quent Capital LLC bought a new position in Cincinnati Financial during the third quarter valued at approximately $34,000. Field & Main Bank acquired a new stake in Cincinnati Financial in the third quarter valued at approximately $47,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in Cincinnati Financial in the third quarter worth approximately $53,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Piper Sandler boosted their price target on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Buy” and a consensus target price of $174.33.

Cincinnati Financial Trading Down 1.5%

Shares of NASDAQ:CINF opened at $157.86 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The stock’s 50-day moving average is $163.45 and its 200-day moving average is $161.50. The company has a market cap of $24.57 billion, a P/E ratio of 10.41, a P/E/G ratio of 3.57 and a beta of 0.63. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last announced 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. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $2.92 billion. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.14 EPS. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio is currently 24.79%.

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.