DekaBank Deutsche Girozentrale Reduces Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

DekaBank Deutsche Girozentrale lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,728 shares of the insurance provider’s stock after selling 372 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cincinnati Financial were worth $3,479,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its position in shares of Cincinnati Financial by 4.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock worth $23,367,000 after acquiring an additional 7,709 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Cincinnati Financial by 40.6% in the first quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock worth $20,904,000 after buying an additional 48,597 shares in the last quarter. Vest Financial LLC raised its position in shares of Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after buying an additional 46,530 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Cincinnati Financial by 77.3% in the first quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock worth $5,326,000 after buying an additional 18,704 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock worth $14,016,000 after buying an additional 56,686 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

CINF has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday. 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, Roth Mkm increased their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Down 1.8 %

Shares of NASDAQ:CINF opened at $140.83 on Friday. The stock’s 50-day moving average price is $136.98 and its 200-day moving average price is $125.87. Cincinnati Financial Co. has a 12-month low of $98.65 and a 12-month high of $145.33. The stock has a market capitalization of $22.01 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $1.66 earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts anticipate that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 16.65%.

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.