Nisa Investment Advisors LLC reduced its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 22.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,866 shares of the insurance provider's stock after selling 12,417 shares during the period. Nisa Investment Advisors LLC's holdings in Cincinnati Financial were worth $6,369,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Park National Corp OH boosted its stake in Cincinnati Financial by 0.6% in the 1st quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock worth $1,874,000 after purchasing an additional 72 shares in the last quarter. Spire Wealth Management boosted its stake in Cincinnati Financial by 77.6% in 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 in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Cincinnati Financial by 0.5% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock worth $2,871,000 after purchasing an additional 91 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in Cincinnati Financial by 4.1% in the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock worth $352,000 after purchasing an additional 94 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. raised its position in Cincinnati Financial by 5.2% during the 1st quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock worth $279,000 after buying an additional 94 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on CINF shares. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a research report on Wednesday. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $155.25.
Read Our Latest Stock Report on CINF
Cincinnati Financial Stock Down 0.3%
Shares of NASDAQ CINF opened at $147.41 on Friday. The company's 50-day simple moving average is $147.62 and its 200-day simple moving average is $142.21. Cincinnati Financial Corporation has a 52-week low of $115.43 and a 52-week high of $161.75. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 9.82 and a beta of 0.76. 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 (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business earned $1.72 earnings per share. The company's revenue for the quarter was up 13.2% compared to the same quarter last year. Equities analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.
Cincinnati Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be given a dividend of $0.87 per share. The ex-dividend date is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.36%. Cincinnati Financial's payout ratio is presently 37.95%.
About Cincinnati Financial
(
Free Report)
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.
Further Reading
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