Ascent Group LLC Lowers Stake in Cincinnati Financial Corporation $CINF

Ascent Group LLC cut its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 25.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,916 shares of the insurance provider’s stock after selling 4,720 shares during the period. Ascent Group LLC’s holdings in Cincinnati Financial were worth $2,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CINF. Lodestone Wealth Management LLC purchased a new position in shares of Cincinnati Financial during the 4th quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in Cincinnati Financial during the third quarter worth $29,000. Redmont Wealth Advisors LLC purchased a new position in Cincinnati Financial during the third quarter valued at $30,000. Quent Capital LLC purchased a new position in Cincinnati Financial during the third quarter valued at $34,000. Finally, West Branch Capital LLC acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CINF shares. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Piper Sandler lifted their price objective on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings cut Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, March 24th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $158.41 on Monday. The firm has a 50-day simple moving average of $162.55 and a 200-day simple moving average of $161.86. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $24.66 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 3.53 and a beta of 0.63. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.51. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. Cincinnati Financial’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.14 earnings per share. On average, equities analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 24.79%.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.