Legal & General Group Plc Sells 73,877 Shares of Cincinnati Financial Corporation $CINF

Legal & General Group Plc trimmed its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096,045 shares of the insurance provider’s stock after selling 73,877 shares during the period. Legal & General Group Plc’s holdings in Cincinnati Financial were worth $179,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the 4th quarter valued at $25,000. LRI Investments LLC bought a new stake in shares of Cincinnati Financial during the 3rd quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Cincinnati Financial during the 3rd quarter valued at $30,000. Legacy Wealth Managment LLC ID raised its position in shares of Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 108 shares during the period. Finally, Oakworth Capital Inc. bought a new stake in shares of Cincinnati Financial during the 4th quarter valued at $46,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $162.94 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $25.21 billion, a P/E ratio of 9.32, a P/E/G ratio of 3.63 and a beta of 0.59. The firm’s fifty day moving average is $162.74 and its two-hundred day moving average is $163.70. Cincinnati Financial Corporation has a 52-week low of $143.37 and a 52-week high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) EPS. As a group, analysts anticipate that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is currently 21.50%.

Analysts Set New Price Targets

CINF has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Bank of America reduced their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.25.

Cincinnati Financial 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.