Cincinnati Financial Co. (NASDAQ:CINF) Stock Holdings Lessened by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. reduced its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 64.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,008 shares of the insurance provider’s stock after selling 1,854 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Cincinnati Financial were worth $104,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. American Century Companies Inc. lifted its position in Cincinnati Financial by 14.4% in the 1st quarter. American Century Companies Inc. now owns 12,234 shares of the insurance provider’s stock valued at $1,663,000 after purchasing an additional 1,536 shares during the last quarter. Raymond James Trust N.A. bought a new stake in Cincinnati Financial in the 1st quarter valued at about $779,000. Cibc World Market Inc. bought a new stake in Cincinnati Financial in the 1st quarter valued at about $713,000. Blair William & Co. IL lifted its position in Cincinnati Financial by 12.1% in the 1st quarter. Blair William & Co. IL now owns 3,319 shares of the insurance provider’s stock valued at $451,000 after purchasing an additional 357 shares during the last quarter. Finally, Aviva PLC lifted its position in Cincinnati Financial by 56.5% in the 1st quarter. Aviva PLC now owns 92,169 shares of the insurance provider’s stock valued at $12,531,000 after purchasing an additional 33,270 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Piper Sandler reissued a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Citigroup raised their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $123.57.

Cincinnati Financial Stock Performance

Shares of CINF opened at $119.95 on Friday. The firm’s 50 day moving average is $116.99 and its 200-day moving average is $108.48. The stock has a market capitalization of $18.79 billion, a P/E ratio of 10.28, a P/E/G ratio of 2.37 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 12-month low of $95.01 and a 12-month high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.33. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 EPS. Equities research analysts anticipate that Cincinnati Financial Co. will post 6.2 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th were given a $0.81 dividend. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Monday, March 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 27.76%.

Cincinnati Financial 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.