Federated Hermes Inc. Lowers Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Federated Hermes Inc. reduced its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 38.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 543 shares of the insurance provider’s stock after selling 345 shares during the quarter. Federated Hermes Inc.’s holdings in Cincinnati Financial were worth $78,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cincinnati Financial during the 4th quarter worth about $27,000. Y.D. More Investments Ltd lifted its position in shares of Cincinnati Financial by 121.8% during the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Cincinnati Financial by 157.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 205 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Cincinnati Financial during the 4th quarter worth approximately $50,000. Finally, Kentucky Trust Co acquired a new stake in Cincinnati Financial during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF opened at $132.24 on Friday. The company has a market capitalization of $20.70 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 8.30 and a beta of 0.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. Cincinnati Financial Co. has a 1 year low of $109.93 and a 1 year high of $161.75. The company’s 50 day simple moving average is $139.55 and its 200 day simple moving average is $142.58.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. On average, sell-side analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 24th were given a dividend of $0.87 per share. The ex-dividend date was Monday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.63%. Cincinnati Financial’s payout ratio is 23.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods cut their target price on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Roth Mkm upped their price target on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.40.

About Cincinnati Financial

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.