Thrivent Financial for Lutherans Sells 58,360 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Thrivent Financial for Lutherans trimmed its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 89.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,732 shares of the insurance provider’s stock after selling 58,360 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cincinnati Financial were worth $689,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its position in Cincinnati Financial by 38.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 57,278 shares of the insurance provider’s stock valued at $5,951,000 after buying an additional 15,910 shares during the period. Sigma Planning Corp grew its position in Cincinnati Financial by 10.7% during the fourth quarter. Sigma Planning Corp now owns 9,128 shares of the insurance provider’s stock valued at $935,000 after buying an additional 884 shares during the period. Crossmark Global Holdings Inc. grew its position in Cincinnati Financial by 6.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,166 shares of the insurance provider’s stock valued at $1,041,000 after buying an additional 638 shares during the period. Hsbc Holdings PLC boosted its position in shares of Cincinnati Financial by 8.0% in the third quarter. Hsbc Holdings PLC now owns 170,111 shares of the insurance provider’s stock worth $15,415,000 after purchasing an additional 12,528 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Cincinnati Financial by 3.5% in the third quarter. BlackRock Inc. now owns 11,909,845 shares of the insurance provider’s stock worth $1,066,764,000 after purchasing an additional 403,467 shares during the period. 66.34% of the stock is currently owned by institutional investors.

Insider Activity at Cincinnati Financial

In related news, Director Charles Odell Schiff sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $102.74, for a total transaction of $2,054,800.00. Following the sale, the director now owns 190,555 shares of the company’s stock, valued at $19,577,620.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CINF shares. TheStreet upgraded shares of Cincinnati Financial from a “c+” rating to a “b-” rating in a research report on Monday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $117.00 price target (down from $119.00) on shares of Cincinnati Financial in a research report on Tuesday, April 18th. Roth Capital reiterated a “buy” rating on shares of Cincinnati Financial in a research report on Tuesday, February 7th. Royal Bank of Canada dropped their price target on shares of Cincinnati Financial from $125.00 to $118.00 in a research report on Monday, May 1st. Finally, Piper Sandler upped their price target on shares of Cincinnati Financial from $114.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 4th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial has an average rating of “Hold” and a consensus target price of $117.17.

Cincinnati Financial Price Performance

CINF stock opened at $100.43 on Thursday. Cincinnati Financial Co. has a one year low of $88.66 and a one year high of $130.66. The company’s fifty day moving average price is $106.92 and its 200-day moving average price is $109.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $15.79 billion, a PE ratio of 836.92, a price-to-earnings-growth ratio of 1.30 and a beta of 0.61.

Cincinnati Financial (NASDAQ:CINF – Get Rating) last released its quarterly earnings results on Friday, April 28th. The insurance provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.29 billion. Cincinnati Financial had a net margin of 0.16% and a return on equity of 5.44%. Cincinnati Financial’s revenue was up 84.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 earnings per share. On average, equities analysts anticipate that Cincinnati Financial Co. will post 4.64 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 16th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, June 15th. Cincinnati Financial’s payout ratio is 2,500.00%.

About Cincinnati Financial

(Get Rating)

Cincinnati Financial Corp. provides property casualty and life insurance services. It operates through the following segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment includes commercial casualty, commercial property, commercial auto, worker’s compensation, and other commercial lines insurance.