Cincinnati Financial Corporation (NASDAQ:CINF) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 64.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,585 shares of the insurance provider's stock after selling 15,839 shares during the period. Bessemer Group Inc.'s holdings in Cincinnati Financial were worth $1,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Spire Wealth Management increased its holdings in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after purchasing an additional 76 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Cincinnati Financial by 5,000.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 250 shares in the last quarter. GoalVest Advisory LLC increased its position in Cincinnati Financial by 65.4% in the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after buying an additional 102 shares during the period. Whipplewood Advisors LLC increased its position in Cincinnati Financial by 333.3% in the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock worth $38,000 after buying an additional 200 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in Cincinnati Financial in the first quarter worth $47,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CINF. Keefe, Bruyette & Woods dropped their target price on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial has a consensus rating of "Moderate Buy" and a consensus price target of $150.50.

Cincinnati Financial Trading Up 0.3%

Shares of CINF stock opened at $146.23 on Monday. The stock has a 50-day simple moving average of $145.35 and a 200 day simple moving average of $142.06. Cincinnati Financial Corporation has a fifty-two week low of $114.75 and a fifty-two week high of $161.75. The stock has a market capitalization of $22.86 billion, a P/E ratio of 15.95, a P/E/G ratio of 9.71 and a beta of 0.78. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. The business had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.70 billion. During the same quarter last year, the business posted $1.72 earnings per share. The company's quarterly revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial's dividend payout ratio is 37.95%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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