Everence Capital Management Inc. Sells 520 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Everence Capital Management Inc. lowered its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 8.3% during the fourth quarter, Holdings Channel reports. The firm owned 5,732 shares of the insurance provider’s stock after selling 520 shares during the period. Everence Capital Management Inc.’s holdings in Cincinnati Financial were worth $824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Cincinnati Financial by 68.6% in the 4th quarter. GAMMA Investing LLC now owns 5,165 shares of the insurance provider’s stock worth $742,000 after purchasing an additional 2,101 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after purchasing an additional 147,542 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Cincinnati Financial by 2.7% in the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock worth $26,019,000 after buying an additional 5,097 shares during the last quarter. IMS Capital Management bought a new stake in shares of Cincinnati Financial during the 3rd quarter worth $274,000. Finally, Franklin Resources Inc. grew its stake in Cincinnati Financial by 51.0% in the 3rd quarter. Franklin Resources Inc. now owns 108,583 shares of the insurance provider’s stock valued at $14,863,000 after buying an additional 36,650 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler lifted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average price of $157.19 per share, with a total value of $157,190.00. Following the purchase, the director now directly owns 54,500 shares in the company, valued at $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.83% of the stock is currently owned by insiders.

Cincinnati Financial Trading Down 0.3 %

Cincinnati Financial stock opened at $142.10 on Friday. Cincinnati Financial Co. has a 12 month low of $104.78 and a 12 month high of $161.74. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 2.89 and a beta of 0.71. The business has a 50 day moving average price of $149.32 and a two-hundred day moving average price of $136.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the business earned $1.66 earnings per share. As a group, equities analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.28%. Cincinnati Financial’s payout ratio is currently 16.65%.

Cincinnati Financial Company Profile

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.