Cincinnati Financial Co. (NASDAQ:CINF) Stock Position Trimmed by Summit Global Investments

Summit Global Investments trimmed its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,432 shares of the insurance provider's stock after selling 6,427 shares during the period. Summit Global Investments' holdings in Cincinnati Financial were worth $924,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Cincinnati Financial during the 4th quarter worth $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Cincinnati Financial in the third quarter worth about $28,000. Y.D. More Investments Ltd grew its stake in shares of Cincinnati Financial by 121.8% in the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider's stock valued at $28,000 after buying an additional 106 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter valued at about $42,000. Finally, Quarry LP purchased a new position in Cincinnati Financial in the 3rd quarter worth approximately $43,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Up 0.7 %

CINF stock traded up $1.05 during mid-day trading on Thursday, hitting $147.54. 652,039 shares of the company were exchanged, compared to its average volume of 606,117. The company has a market capitalization of $23.10 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. The firm has a fifty day simple moving average of $140.38 and a 200 day simple moving average of $142.60. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.75.

Remove Ads

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. On average, research analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial's dividend payout ratio is 23.97%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Roth Mkm boosted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $154.20.

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.