Narwhal Capital Management Has $5.58 Million Stake in Cincinnati Financial Corporation (NASDAQ:CINF)

Narwhal Capital Management reduced its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,790 shares of the insurance provider's stock after selling 4,548 shares during the quarter. Narwhal Capital Management's holdings in Cincinnati Financial were worth $5,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CINF. Norges Bank acquired a new position in Cincinnati Financial during the fourth quarter worth $223,959,000. GAMMA Investing LLC increased its holdings in Cincinnati Financial by 15,698.7% during the 1st quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock valued at $120,540,000 after acquiring an additional 810,840 shares in the last quarter. Topsail Wealth Management LLC acquired a new position in Cincinnati Financial during the fourth quarter worth about $47,114,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Cincinnati Financial by 62.6% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock valued at $90,166,000 after purchasing an additional 241,540 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Cincinnati Financial by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock valued at $863,099,000 after purchasing an additional 224,033 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of CINF traded down $0.55 during trading hours on Tuesday, hitting $146.69. 532,617 shares of the company were exchanged, compared to its average volume of 659,770. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $22.93 billion, a PE ratio of 16.00, a PEG ratio of 9.66 and a beta of 0.78. The firm has a fifty day simple moving average of $144.30 and a 200-day simple moving average of $142.23. Cincinnati Financial Corporation has a one year low of $113.70 and a one year high of $161.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.61) by $0.37. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The firm's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 earnings per share. As a group, sell-side analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.37%. Cincinnati Financial's dividend payout ratio (DPR) is currently 37.95%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CINF shares. Keefe, Bruyette & Woods lowered their price objective on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $147.40.

Cincinnati Financial 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.