Vanguard Group Inc. Has $1.98 Billion Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Vanguard Group Inc. trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,174,372 shares of the insurance provider’s stock after selling 26,625 shares during the quarter. Vanguard Group Inc. owned approximately 12.24% of Cincinnati Financial worth $1,983,781,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CINF. Envestnet Asset Management Inc. boosted its holdings in shares of Cincinnati Financial by 35.3% in the third quarter. Envestnet Asset Management Inc. now owns 218,253 shares of the insurance provider’s stock worth $22,325,000 after buying an additional 56,970 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Cincinnati Financial in the third quarter worth about $241,000. Invesco Ltd. boosted its holdings in shares of Cincinnati Financial by 2.9% during the third quarter. Invesco Ltd. now owns 1,287,675 shares of the insurance provider’s stock worth $131,716,000 after purchasing an additional 36,759 shares during the period. Pearl River Capital LLC boosted its holdings in shares of Cincinnati Financial by 10.5% during the third quarter. Pearl River Capital LLC now owns 8,422 shares of the insurance provider’s stock worth $861,000 after purchasing an additional 802 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Cincinnati Financial during the third quarter worth approximately $190,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of $113.47 per share, with a total value of $113,470.00. Following the completion of the transaction, the director now 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 can be accessed through this link. 2.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on CINF shares. Citigroup raised their price target on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $125.00 to $135.00 in a report on Monday, March 25th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Piper Sandler restated a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $126.00.

Cincinnati Financial Trading Down 0.1 %

NASDAQ:CINF opened at $113.67 on Wednesday. Cincinnati Financial Co. has a 12 month low of $95.01 and a 12 month high of $124.35. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 7.56, a P/E/G ratio of 2.40 and a beta of 0.65. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $116.85 and its 200-day moving average is $113.23.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities analysts anticipate that Cincinnati Financial Co. will post 6.37 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

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.