Bank & Trust Co Trims Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Bank & Trust Co decreased its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,619 shares of the insurance provider’s stock after selling 248 shares during the quarter. Bank & Trust Co’s holdings in Cincinnati Financial were worth $664,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CINF. Charles Schwab Investment Management Inc. raised its position in shares of Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after acquiring an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Cincinnati Financial by 583.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after purchasing an additional 329,435 shares in the last quarter. AQR Capital Management LLC grew its stake in Cincinnati Financial by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after acquiring an additional 277,550 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after acquiring an additional 187,934 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Cincinnati Financial by 49.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after buying an additional 147,542 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the purchase, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CINF shares. Piper Sandler boosted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Cincinnati Financial Price Performance

NASDAQ:CINF traded up $0.69 during trading hours on Tuesday, hitting $142.44. The company’s stock had a trading volume of 102,973 shares, compared to its average volume of 422,682. The business’s 50-day moving average is $149.26 and its two-hundred day moving average is $136.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $22.27 billion, a PE ratio of 7.32, a PEG ratio of 2.89 and a beta of 0.71. Cincinnati Financial Co. has a 52-week low of $104.78 and a 52-week high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. Cincinnati Financial’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 earnings per share. As a group, research analysts anticipate that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s payout ratio is currently 16.65%.

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.