Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 10.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 505,700 shares of the insurance provider’s stock after selling 61,900 shares during the period. Swiss National Bank owned 0.32% of Cincinnati Financial worth $51,728,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CINF. Norges Bank bought a new stake in Cincinnati Financial in the fourth quarter worth $149,585,000. Los Angeles Capital Management LLC raised its stake in shares of Cincinnati Financial by 554.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock valued at $113,470,000 after acquiring an additional 939,861 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Cincinnati Financial by 824.3% in the 2nd quarter. Osaic Holdings Inc. now owns 722,610 shares of the insurance provider’s stock worth $7,718,000 after purchasing an additional 644,430 shares during the last quarter. Select Equity Group L.P. boosted its position in Cincinnati Financial by 294.9% during the fourth quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock worth $60,350,000 after purchasing an additional 440,158 shares during the period. Finally, State Street Corp grew its holdings in Cincinnati Financial by 4.1% during the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock valued at $1,246,056,000 after purchasing an additional 360,552 shares during the last quarter. Institutional investors and hedge funds own 64.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CINF. Piper Sandler increased their price target on shares of Cincinnati Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Oppenheimer began coverage on Cincinnati Financial in a report on Thursday, November 16th. They issued a “market perform” rating for the company. Janney Montgomery Scott assumed coverage on shares of Cincinnati Financial in a report on Thursday, December 14th. They issued a “neutral” rating and a $110.00 target price on the stock. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday. Finally, Citigroup started coverage on shares of Cincinnati Financial in a report on Wednesday, November 22nd. They set a “neutral” rating and a $110.00 price objective on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $113.67.

View Our Latest Stock Report on CINF

Insider Buying and Selling

In other news, Director Dirk J. Debbink bought 2,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were bought at an average cost of $102.98 per share, for a total transaction of $205,960.00. Following the completion of the acquisition, the director now owns 51,542 shares in the company, valued at approximately $5,307,795.16. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.95% of the stock is owned by insiders.

Cincinnati Financial Stock Down 4.5 %

Shares of NASDAQ:CINF opened at $107.03 on Thursday. The company has a 50 day moving average of $106.42 and a 200-day moving average of $104.62. Cincinnati Financial Co. has a one year low of $95.01 and a one year high of $130.66. The stock has a market cap of $16.79 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 1.22 and a beta of 0.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.28 and a quick ratio of 0.28.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.33. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $2.02 billion. Cincinnati Financial had a return on equity of 8.82% and a net margin of 18.41%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS. On average, sell-side analysts forecast that Cincinnati Financial Co. will post 6.06 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, March 19th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, March 18th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 25.71%.

Cincinnati Financial Company Profile

(Free Report)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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

Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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