Cincinnati Financial Corporation $CINF Shares Sold by OLD Republic International Corp

OLD Republic International Corp lowered its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,900 shares of the insurance provider’s stock after selling 30,200 shares during the period. Cincinnati Financial makes up about 2.4% of OLD Republic International Corp’s investment portfolio, making the stock its 14th biggest position. OLD Republic International Corp’s holdings in Cincinnati Financial were worth $60,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cibc World Market Inc. acquired a new stake in Cincinnati Financial during the 3rd quarter valued at $2,511,000. Strs Ohio grew its holdings in Cincinnati Financial by 322.9% during the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after buying an additional 71,378 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Cincinnati Financial during the 3rd quarter valued at $1,622,000. Johnson Investment Counsel Inc. grew its holdings in Cincinnati Financial by 2.8% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock valued at $222,238,000 after buying an additional 37,913 shares during the last quarter. Finally, AE Wealth Management LLC grew its holdings in Cincinnati Financial by 1,102.8% during the 3rd quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock valued at $8,063,000 after buying an additional 46,757 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

CINF stock opened at $168.10 on Friday. Cincinnati Financial Corporation has a 52-week low of $143.37 and a 52-week high of $174.27. The stock’s fifty day simple moving average is $162.67 and its 200-day simple moving average is $163.49. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 3.65 and a beta of 0.59.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the firm earned ($0.24) earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is 21.50%.

Analysts Set New Price Targets

A number of brokerages have commented on CINF. Bank of America lowered their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Roth Mkm increased their target price on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings lowered Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $178.75.

Cincinnati Financial Company Profile

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.