Truist Financial Corp Trims Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Truist Financial Corp lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 35.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,033 shares of the insurance provider’s stock after selling 11,358 shares during the quarter. Truist Financial Corp’s holdings in Cincinnati Financial were worth $2,176,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Octavia Wealth Advisors LLC lifted its stake in shares of Cincinnati Financial by 0.9% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 11,258 shares of the insurance provider’s stock worth $1,160,000 after purchasing an additional 101 shares during the period. Pinion Investment Advisors LLC lifted its stake in shares of Cincinnati Financial by 2.9% during the 4th quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 101 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Cincinnati Financial by 3.0% during the 3rd quarter. Belpointe Asset Management LLC now owns 3,568 shares of the insurance provider’s stock worth $365,000 after purchasing an additional 103 shares during the period. UMB Bank n.a. lifted its stake in shares of Cincinnati Financial by 11.6% during the 4th quarter. UMB Bank n.a. now owns 1,004 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 104 shares during the period. Finally, Allworth Financial LP raised its position in shares of Cincinnati Financial by 2.0% in the 3rd quarter. Allworth Financial LP now owns 5,316 shares of the insurance provider’s stock worth $544,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 0.7 %

Shares of Cincinnati Financial stock opened at $118.31 on Friday. The business has a 50-day moving average of $118.46 and a 200-day moving average of $110.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market capitalization of $18.52 billion, a PE ratio of 7.87, a P/E/G ratio of 2.50 and a beta of 0.63. Cincinnati Financial Co. has a 1-year low of $95.01 and a 1-year high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.03. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The company’s revenue was up 31.0% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. As a group, equities analysts forecast that Cincinnati Financial Co. will post 6.37 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.24 dividend on an annualized basis and a yield of 2.74%. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $113.47 per share, with a total value of $113,470.00. Following the completion of the acquisition, the director now directly owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CINF. Citigroup increased their target price on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Hold” and an average price target of $124.50.

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.