Victory Capital Management Inc. Trims Position in Cincinnati Financial Corporation $CINF

Victory Capital Management Inc. trimmed its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,565 shares of the insurance provider’s stock after selling 3,201 shares during the period. Victory Capital Management Inc. owned about 0.14% of Cincinnati Financial worth $34,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of CINF. Cibc World Market Inc. bought a new stake in Cincinnati Financial during the 3rd quarter valued at $2,511,000. Strs Ohio grew its position in shares of Cincinnati Financial by 322.9% during the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock worth $14,780,000 after buying an additional 71,378 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of Cincinnati Financial by 1,102.8% during the third 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 period. Western Wealth Management LLC purchased a new position in shares of Cincinnati Financial during the third quarter valued at $1,622,000. Finally, Narwhal Capital Management raised its holdings in shares of Cincinnati Financial by 62.4% in the third quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock valued at $7,109,000 after acquiring an additional 17,276 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Piper Sandler raised their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $174.33.

Cincinnati Financial Stock Down 0.6%

NASDAQ:CINF opened at $165.39 on Monday. The company’s 50-day simple moving average is $163.47 and its 200-day simple moving average is $161.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The stock has a market capitalization of $25.74 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.68 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the company posted $3.14 earnings per share. Cincinnati Financial’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.76 annualized dividend and a yield of 2.3%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio is currently 22.94%.

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.