Nisa Investment Advisors LLC Sells 1,299 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Nisa Investment Advisors LLC reduced its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,436 shares of the insurance provider’s stock after selling 1,299 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cincinnati Financial were worth $4,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CINF. Norges Bank bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $149,585,000. Los Angeles Capital Management LLC boosted its stake in shares of Cincinnati Financial by 554.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock worth $113,470,000 after acquiring an additional 939,861 shares during the period. Select Equity Group L.P. boosted its stake in shares of Cincinnati Financial by 294.9% during the 4th quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock worth $60,350,000 after acquiring an additional 440,158 shares during the period. State Street Corp boosted its stake in shares of Cincinnati Financial by 4.1% during the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after acquiring an additional 360,552 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Cincinnati Financial by 1,870.3% in the 3rd quarter. AQR Capital Management LLC now owns 274,030 shares of the insurance provider’s stock valued at $28,031,000 after purchasing an additional 260,122 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $119.17 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The company has a market cap of $18.67 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.32 and a beta of 0.63. The stock has a fifty day moving average price of $116.08 and a 200-day moving average price of $107.91.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. Cincinnati Financial’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 6.18 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is 27.76%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Piper Sandler restated a “neutral” rating and issued a $116.00 price target on shares of Cincinnati Financial in a research note on Monday, April 1st. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Janney Montgomery Scott assumed coverage on Cincinnati Financial in a research note on Thursday, December 14th. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $121.29.

Cincinnati Financial Company 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.