Erste Asset Management GmbH Has $701,000 Stock Holdings in Cincinnati Financial Corporation $CINF

Erste Asset Management GmbH trimmed its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 66.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,485 shares of the insurance provider’s stock after selling 8,699 shares during the period. Erste Asset Management GmbH’s holdings in Cincinnati Financial were worth $701,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in CINF. Cibc World Market Inc. bought a new stake in Cincinnati Financial in the third quarter valued at approximately $2,511,000. Strs Ohio grew its holdings in shares of Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after buying an additional 71,378 shares during the period. AE Wealth Management LLC increased its holdings in shares of Cincinnati Financial by 1,102.8% in the third quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock worth $8,063,000 after acquiring an additional 46,757 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the third quarter worth about $1,622,000. Finally, Narwhal Capital Management lifted its holdings in shares of Cincinnati Financial by 62.4% during the 3rd quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock valued at $7,109,000 after purchasing an additional 17,276 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $163.98 on Monday. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $174.27. The company’s fifty day simple moving average is $163.29 and its 200-day simple moving average is $160.47. The firm has a market cap of $25.52 billion, a PE ratio of 10.81, a P/E/G ratio of 3.65 and a beta of 0.63. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the firm earned $3.14 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a $0.94 dividend. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 22.94%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CINF. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Piper Sandler raised their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.33.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.