Denali Advisors LLC Lowers Position in Cincinnati Financial Co. (NASDAQ:CINF)

Denali Advisors LLC lessened its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 19.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 413 shares of the insurance provider’s stock after selling 102 shares during the period. Denali Advisors LLC’s holdings in Cincinnati Financial were worth $51,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. raised its position in Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 174 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $27,000. BKM Wealth Management LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $31,000. Raleigh Capital Management Inc. purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $31,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Cincinnati Financial during the first quarter valued at about $47,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were acquired at an average cost of $113.47 per share, with a total value of $113,470.00. Following the transaction, the director now owns 53,988 shares in the company, valued at approximately $6,126,018.36. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CINF shares. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler reaffirmed a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a research note on Monday, April 1st. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $127.80.

Cincinnati Financial Trading Down 1.8 %

Shares of NASDAQ CINF traded down $2.13 during trading hours on Wednesday, hitting $116.72. The company’s stock had a trading volume of 485,607 shares, compared to its average volume of 786,252. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market cap of $18.27 billion, a price-to-earnings ratio of 7.84, a P/E/G ratio of 2.54 and a beta of 0.65. Cincinnati Financial Co. has a 12 month low of $95.81 and a 12 month high of $124.35. The business has a 50-day simple moving average of $116.40 and a 200-day simple moving average of $114.14.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.03. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. Cincinnati Financial’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. On average, analysts anticipate that Cincinnati Financial Co. will post 6.32 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.81 per share. The ex-dividend date is Tuesday, June 18th. This represents a $3.24 annualized dividend and a yield of 2.78%. Cincinnati Financial’s payout ratio is 21.56%.

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.