Russell Investments Group Ltd. Sells 8,414 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Russell Investments reduced its stake in Cincinnati Financial by 4.8%, selling 8,414 shares and leaving it with 166,526 shares valued at about $26.3 million (roughly 0.11% of the company).
• Cincinnati Financial beat expectations with Q results of $3.37 EPS (vs. $2.86 est.) and $3.09 billion revenue (up 21.8% YoY), and the company raised its quarterly dividend to $0.94 (annualized $3.76, ~2.3% yield).
• The stock has a market cap of $25.56 billion and a P/E of 10.83, with institutional ownership at 65.24% and a consensus analyst rating of "Buy" (average price target $174.33).

Russell Investments Group Ltd. decreased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,526 shares of the insurance provider's stock after selling 8,414 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Cincinnati Financial worth $26,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. raised its position in Cincinnati Financial by 0.4% in the third quarter. Oppenheimer & Co. Inc. now owns 14,906 shares of the insurance provider's stock valued at $2,357,000 after purchasing an additional 64 shares during the last quarter. Legacy Financial Strategies LLC grew its holdings in shares of Cincinnati Financial by 0.3% during the third quarter. Legacy Financial Strategies LLC now owns 22,616 shares of the insurance provider's stock worth $3,576,000 after purchasing an additional 65 shares during the last quarter. State of Wyoming increased its stake in shares of Cincinnati Financial by 5.4% in the third quarter. State of Wyoming now owns 1,315 shares of the insurance provider's stock valued at $208,000 after buying an additional 67 shares during the period. Natural Investments LLC increased its stake in shares of Cincinnati Financial by 2.1% in the third quarter. Natural Investments LLC now owns 3,421 shares of the insurance provider's stock valued at $540,000 after buying an additional 70 shares during the period. Finally, NewEdge Wealth LLC raised its holdings in Cincinnati Financial by 0.5% in the 3rd quarter. NewEdge Wealth LLC now owns 15,339 shares of the insurance provider's stock valued at $2,455,000 after buying an additional 75 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $164.23 on Friday. The stock has a market capitalization of $25.56 billion, a PE ratio of 10.83, a PEG ratio of 3.65 and a beta of 0.63. The business's 50 day simple moving average is $163.46 and its 200 day simple moving average is $161.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $174.27.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.51. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company's revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.14 EPS. As a group, research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be paid a dividend of $0.94 per share. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 24th. Cincinnati Financial's payout ratio is 22.94%.

Analyst Ratings Changes

A number of research firms have weighed in on CINF. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an "outperform" rating in a report on Tuesday, January 6th. Piper Sandler raised their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a "neutral" rating in a research note on Monday, December 22nd. Wall Street Zen lowered shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $174.33.

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.

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