WESPAC Advisors LLC cut its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 14,313 shares of the insurance provider’s stock after selling 997 shares during the period. WESPAC Advisors LLC’s holdings in Cincinnati Financial were worth $1,505,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CINF. Thor Advisors LLC bought a new stake in Cincinnati Financial in the third quarter worth $34,000. Signaturefd LLC lifted its position in Cincinnati Financial by 49.6% during the 3rd quarter. Signaturefd LLC now owns 368 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 122 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Cincinnati Financial during the 3rd quarter worth $44,000. Quest Capital Management Inc. ADV acquired a new position in Cincinnati Financial during the 3rd quarter worth $57,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Cincinnati Financial during the 4th quarter worth $63,000. Hedge funds and other institutional investors own 62.60% of the company’s stock.
A number of research firms have weighed in on CINF. BidaskClub raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Piper Sandler lowered shares of Cincinnati Financial from a “neutral” rating to an “underweight” rating and set a $110.00 target price for the company. in a research report on Wednesday, January 8th. Finally, Zacks Investment Research lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $110.83.
Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Wednesday, February 5th. The insurance provider reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.12. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $1.55 billion. Cincinnati Financial had a net margin of 25.20% and a return on equity of 7.50%. The business’s revenue was up 203.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. Equities analysts anticipate that Cincinnati Financial Co. will post 3.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.56. Cincinnati Financial’s dividend payout ratio is currently 53.33%.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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