Nomura Asset Management Co. Ltd. Lowers Position in Cincinnati Financial Co. (NASDAQ:CINF)

Nomura Asset Management Co. Ltd. decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,708 shares of the insurance provider’s stock after selling 3,301 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.19% of Cincinnati Financial worth $30,180,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CINF. London Co. of Virginia increased its holdings in Cincinnati Financial by 7.8% in the 3rd quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock worth $283,658,000 after acquiring an additional 200,414 shares in the last quarter. Norges Bank purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth $179,305,000. Northern Trust Corp raised its position in shares of Cincinnati Financial by 2.0% during the 3rd quarter. Northern Trust Corp now owns 1,732,270 shares of the insurance provider’s stock valued at $177,194,000 after purchasing an additional 33,942 shares during the period. Johnson Investment Counsel Inc. lifted its stake in shares of Cincinnati Financial by 2.6% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,353,199 shares of the insurance provider’s stock valued at $138,419,000 after buying an additional 34,880 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Cincinnati Financial by 16.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock worth $134,077,000 after buying an additional 186,629 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Citigroup upped their price target on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Piper Sandler reiterated a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a research report on Monday, April 1st. Finally, BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $126.00.

Insider Buying and Selling

In other news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were acquired at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the transaction, the director now directly owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Price Performance

Shares of CINF stock traded up $0.57 on Friday, reaching $117.68. The company’s stock had a trading volume of 529,860 shares, compared to its average volume of 663,075. The company has a market capitalization of $18.42 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 2.51 and a beta of 0.63. The stock’s fifty day simple moving average is $118.80 and its 200-day simple moving average is $111.51. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 1 year low of $95.01 and a 1 year high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. The business had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The business’s revenue was up 31.0% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. Analysts forecast that Cincinnati Financial Co. will post 6.37 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, June 18th. Cincinnati Financial’s payout ratio is 21.56%.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.