Cincinnati Financial Corporation $CINF Shares Sold by FJ Capital Management LLC

FJ Capital Management LLC trimmed its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 26.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,836 shares of the insurance provider’s stock after selling 11,835 shares during the period. FJ Capital Management LLC’s holdings in Cincinnati Financial were worth $5,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CINF. Norges Bank purchased a new stake in Cincinnati Financial in the fourth quarter valued at $270,892,000. Arrowstreet Capital Limited Partnership boosted its holdings in Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock valued at $98,161,000 after purchasing an additional 396,086 shares during the last quarter. First Trust Advisors LP boosted its holdings in Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock valued at $215,562,000 after purchasing an additional 367,224 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares during the last quarter. Finally, Korea Investment CORP boosted its holdings in Cincinnati Financial by 210.0% in the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after purchasing an additional 199,437 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Trading Up 0.4%

CINF stock opened at $169.01 on Friday. The company’s 50-day simple moving average is $163.71 and its 200-day simple moving average is $163.51. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 52-week low of $143.37 and a 52-week high of $174.27. The firm has a market cap of $26.14 billion, a P/E ratio of 9.66, a PEG ratio of 3.67 and a beta of 0.57.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the company posted ($0.24) EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is presently 21.50%.

Analyst Ratings Changes

CINF has been the topic of several recent research reports. Bank of America lowered their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Piper Sandler upped their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, Roth Mkm upped their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.