London Co. of Virginia Sells 163,143 Shares of Cincinnati Financial Corporation $CINF

Key Points

• London Co. of Virginia reduced its Cincinnati Financial stake by 8.0% in Q1, selling 163,143 shares and still holding 1,887,411 shares valued at about $297 million.
• Other institutional investors also made notable moves, including large position increases by First Trust Advisors and Arrowstreet Capital, while institutions overall now own 65.24% of the company.
• Cincinnati Financial beat its last quarterly earnings expectations, and analysts currently maintain a Moderate Buy consensus with a price target of $192.40; the stock also pays a quarterly dividend of $0.94 per share for a 2.1% yield.

London Co. of Virginia trimmed its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,887,411 shares of the insurance provider's stock after selling 163,143 shares during the quarter. Cincinnati Financial makes up approximately 1.8% of London Co. of Virginia's portfolio, making the stock its 17th biggest holding. London Co. of Virginia owned approximately 1.22% of Cincinnati Financial worth $296,988,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Cincinnati Financial in the 4th quarter worth approximately $270,892,000. First Trust Advisors LP grew its position in shares of Cincinnati Financial by 59.4% during the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider's stock valued at $331,136,000 after purchasing an additional 784,584 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Cincinnati Financial by 193.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider's stock valued at $98,161,000 after purchasing an additional 396,086 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock worth $119,682,000 after purchasing an additional 262,715 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Cincinnati Financial in the fourth quarter worth $32,692,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CINF shares. Bank of America dropped their price objective on Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Piper Sandler upped their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Roth Capital increased their target price on Cincinnati Financial from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings raised Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.40.

Cincinnati Financial Stock Up 1.9%

Shares of Cincinnati Financial stock opened at $182.81 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The company has a 50-day moving average of $173.56 and a 200 day moving average of $166.56. Cincinnati Financial Corporation has a 1 year low of $143.87 and a 1 year high of $194.81. The firm has a market cap of $28.28 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 3.74 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.17. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.24) earnings per share. As a group, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.76 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 23rd. Cincinnati Financial's dividend payout ratio is 21.50%.

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.

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