OVERSEA CHINESE BANKING Corp Ltd Trims Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,562 shares of the insurance provider’s stock after selling 344 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Cincinnati Financial were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in Cincinnati Financial during the fourth quarter worth about $31,000. NBC Securities Inc. purchased a new stake in Cincinnati Financial in the third quarter valued at approximately $39,000. Integrated Investment Consultants LLC purchased a new stake in Cincinnati Financial in the fourth quarter valued at approximately $39,000. GoalVest Advisory LLC increased its position in Cincinnati Financial by 122.9% during the fourth quarter. GoalVest Advisory LLC now owns 390 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 215 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Cincinnati Financial during the third quarter worth approximately $51,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 0.8 %

Shares of Cincinnati Financial stock opened at $120.96 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 1-year low of $95.01 and a 1-year high of $124.35. The business has a 50-day moving average of $117.20 and a 200-day moving average of $108.73. The company has a market capitalization of $18.95 billion, a PE ratio of 10.37, a P/E/G ratio of 2.42 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.33. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 EPS. As a group, equities analysts forecast that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th were issued a $0.81 dividend. The ex-dividend date was Monday, March 18th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a dividend yield of 2.68%. Cincinnati Financial’s payout ratio is 27.76%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Citigroup boosted their target price on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Piper Sandler reaffirmed a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. Finally, TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $123.57.

Cincinnati Financial 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.