Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,369 shares of the insurance provider’s stock after selling 401 shares during the quarter. Corebridge Financial Inc.’s holdings in Cincinnati Financial were worth $5,514,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of Cincinnati Financial by 12.8% in the 3rd quarter. FMR LLC now owns 193,400 shares of the insurance provider’s stock valued at $26,326,000 after buying an additional 21,900 shares in the last quarter. Townsquare Capital LLC lifted its position in Cincinnati Financial by 159.6% in the third quarter. Townsquare Capital LLC now owns 4,701 shares of the insurance provider’s stock valued at $640,000 after acquiring an additional 2,890 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cincinnati Financial in the third quarter valued at $5,309,000. Public Sector Pension Investment Board grew its holdings in shares of Cincinnati Financial by 2.6% during the third quarter. Public Sector Pension Investment Board now owns 27,216 shares of the insurance provider’s stock worth $3,705,000 after purchasing an additional 700 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its position in shares of Cincinnati Financial by 6.0% during the third quarter. Vinva Investment Management Ltd now owns 5,929 shares of the insurance provider’s stock worth $804,000 after purchasing an additional 336 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CINF has been the subject of a number of research analyst reports. Roth Mkm upped their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $154.20.

Cincinnati Financial Price Performance

Shares of CINF opened at $145.55 on Friday. The company has a market capitalization of $22.79 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.75. The firm has a 50-day simple moving average of $140.57 and a 200-day simple moving average of $142.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.87 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s payout ratio is currently 23.97%.

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.