Cincinnati Financial Corporation $CINF Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,399 shares of the insurance provider’s stock after selling 4,452 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cincinnati Financial were worth $10,448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Bison Wealth LLC bought a new stake in Cincinnati Financial in the fourth quarter worth about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cincinnati Financial by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after purchasing an additional 525 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Cincinnati Financial in the 2nd quarter worth approximately $101,000. Finally, Cerity Partners LLC grew its stake in shares of Cincinnati Financial by 10.8% in the 2nd quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after purchasing an additional 4,674 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

CINF opened at $192.03 on Friday. The stock has a fifty day moving average of $168.51 and a 200-day moving average of $164.98. The firm has a market capitalization of $29.70 billion, a P/E ratio of 10.98, a PEG ratio of 4.15 and a beta of 0.54. Cincinnati Financial Corporation has a 12-month low of $143.87 and a 12-month high of $192.09. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company posted ($0.24) earnings per share. Cincinnati Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that Cincinnati Financial Corporation will post 8.66 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

Analysts Set New Price Targets

Several analysts recently commented on CINF shares. Piper Sandler increased their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Bank of America decreased their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. Roth Mkm increased their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial has an average rating of “Buy” and an average target price of $183.25.

About Cincinnati Financial

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.