Commonwealth Equity Services LLC Lowers Stock Position in Cincinnati Financial Corporation $CINF

Commonwealth Equity Services LLC cut its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,489 shares of the insurance provider’s stock after selling 11,960 shares during the period. Commonwealth Equity Services LLC’s holdings in Cincinnati Financial were worth $5,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CINF. Bison Wealth LLC purchased a new position in shares of Cincinnati Financial during the fourth quarter worth about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after buying an additional 525 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after buying an additional 173,343 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Cincinnati Financial during the second quarter worth about $101,000. Finally, Cerity Partners LLC grew its holdings in shares of Cincinnati Financial by 10.8% during the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after buying an additional 4,674 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $165.29 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The company has a market cap of $25.57 billion, a P/E ratio of 9.45, a PEG ratio of 3.59 and a beta of 0.57. Cincinnati Financial Corporation has a 52 week low of $143.37 and a 52 week high of $174.27. The company has a 50-day moving average price of $162.76 and a 200 day moving average price of $163.41.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.24) earnings per share. Research analysts predict that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be given a $0.94 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

Analyst Upgrades and Downgrades

CINF has been the topic of a number of research reports. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Roth Mkm raised their price target on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 27th. Bank of America lowered their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $183.25.

About Cincinnati Financial

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.