Cognios Beta Neutral Large Cap Fund LP Sells 543 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Cognios Beta Neutral Large Cap Fund LP lessened its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 13.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,350 shares of the insurance provider’s stock after selling 543 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in Cincinnati Financial were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UBS Group AG boosted its position in Cincinnati Financial by 15.4% during the fourth quarter. UBS Group AG now owns 349,153 shares of the insurance provider’s stock valued at $36,123,000 after purchasing an additional 46,595 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Cincinnati Financial by 40.6% in the 1st quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock worth $20,904,000 after buying an additional 48,597 shares during the last quarter. United Advisor Group LLC bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $888,000. Norges Bank purchased a new stake in Cincinnati Financial during the fourth quarter valued at approximately $179,305,000. Finally, Teacher Retirement System of Texas boosted its stake in Cincinnati Financial by 61.5% in the fourth quarter. Teacher Retirement System of Texas now owns 160,543 shares of the insurance provider’s stock valued at $16,610,000 after acquiring an additional 61,136 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $125.00 to $135.00 in a report on Monday, March 25th. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $135.00 in a report on Friday, June 28th. Bank of America upped their price objective on shares of Cincinnati Financial from $143.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Piper Sandler reiterated a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Insider Activity

In other news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was 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 owns 53,988 shares in the company, valued at approximately $6,126,018.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF traded up $1.87 during midday trading on Tuesday, reaching $125.13. The company’s stock had a trading volume of 626,315 shares, compared to its average volume of 782,997. The firm has a market capitalization of $19.59 billion, a PE ratio of 8.33, a P/E/G ratio of 2.62 and a beta of 0.65. The stock has a fifty day moving average of $117.01 and a 200 day moving average of $115.34. Cincinnati Financial Co. has a twelve month low of $96.86 and a twelve month high of $125.96. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue was up 31.0% on a year-over-year basis. On average, equities analysts expect that Cincinnati Financial Co. will post 6.32 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.59%. 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.