Vanguard Group Inc. Lowers Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Vanguard Group Inc. lowered its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,949,434 shares of the insurance provider’s stock after selling 224,938 shares during the period. Vanguard Group Inc. owned 12.10% of Cincinnati Financial worth $2,352,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Assetmark Inc. grew its position in Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 174 shares during the period. Criterion Capital Advisors LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $27,000. BKM Wealth Management LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $31,000. Raleigh Capital Management Inc. purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $31,000. Finally, Integrated Investment Consultants LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

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 purchased at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the purchase, the director now directly owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Cincinnati Financial Stock Down 4.0 %

Shares of NASDAQ:CINF traded down $4.98 during trading on Friday, hitting $121.03. The company’s stock had a trading volume of 989,434 shares, compared to its average volume of 732,345. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $128.23. The stock’s 50-day moving average price is $117.40 and its two-hundred day moving average price is $115.69. The company has a market capitalization of $18.95 billion, a PE ratio of 8.05, a PEG ratio of 2.63 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 31.0% compared to the same quarter last year. As a group, sell-side analysts expect that Cincinnati Financial Co. will post 6.23 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Tuesday, June 18th were paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Cincinnati Financial Profile

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.