JPMorgan Chase & Co. Sells 16,096 Shares of Cincinnati Financial Corporation $CINF

JPMorgan Chase & Co. trimmed its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,500 shares of the insurance provider’s stock after selling 16,096 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cincinnati Financial were worth $59,683,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. KERR FINANCIAL PLANNING Corp acquired a new position in Cincinnati Financial in the third quarter worth about $53,000. CIBC Private Wealth Group LLC boosted its holdings in Cincinnati Financial by 43.6% during the third quarter. CIBC Private Wealth Group LLC now owns 2,724 shares of the insurance provider’s stock valued at $431,000 after purchasing an additional 827 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Cincinnati Financial during the third quarter valued at approximately $3,411,000. First Affirmative Financial Network grew its stake in shares of Cincinnati Financial by 4.4% in the 3rd quarter. First Affirmative Financial Network now owns 2,923 shares of the insurance provider’s stock valued at $462,000 after purchasing an additional 123 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Cincinnati Financial in the 3rd quarter valued at approximately $22,243,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $157.86 on Friday. The business’s fifty day moving average is $163.45 and its two-hundred day moving average is $161.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $24.57 billion, a P/E ratio of 10.41, a P/E/G ratio of 3.57 and a beta of 0.63. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $174.27.

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

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be paid a $0.94 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 24th. Cincinnati Financial’s payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

CINF has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Piper Sandler lifted their price objective on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Finally, Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $174.33.

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.