London Co. of Virginia Decreases Stock Position in Cincinnati Financial Corporation $CINF

London Co. of Virginia cut its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,887,411 shares of the insurance provider’s stock after selling 163,143 shares during the quarter. Cincinnati Financial accounts for approximately 1.8% of London Co. of Virginia’s holdings, making the stock its 17th largest position. London Co. of Virginia’s holdings in Cincinnati Financial were worth $296,988,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Bollard Group LLC raised its stake in shares of Cincinnati Financial by 7.6% in the first quarter. Bollard Group LLC now owns 3,271 shares of the insurance provider’s stock worth $515,000 after purchasing an additional 231 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Cincinnati Financial by 50.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 903,028 shares of the insurance provider’s stock valued at $142,091,000 after buying an additional 301,995 shares during the last quarter. State of Wyoming increased its holdings in Cincinnati Financial by 72.9% in the 1st quarter. State of Wyoming now owns 2,130 shares of the insurance provider’s stock worth $335,000 after buying an additional 898 shares in the last quarter. First Trust Advisors LP increased its holdings in Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after buying an additional 784,584 shares in the last quarter. Finally, Bellwether Advisors LLC purchased a new position in Cincinnati Financial in the 1st quarter worth about $4,084,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $182.81 on Friday. The company has a 50-day moving average price of $173.56 and a 200-day moving average price of $166.56. Cincinnati Financial Corporation has a 52 week low of $143.87 and a 52 week high of $194.81. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $28.28 billion, a P/E ratio of 10.45, a PEG ratio of 3.74 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. Equities research analysts anticipate that Cincinnati Financial Corporation will post 8.76 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were given a $0.94 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $3.76 annualized dividend and a yield of 2.1%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

Analysts Set New Price Targets

Several research firms have issued reports on CINF. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital boosted their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target of $192.40.

Cincinnati Financial Profile

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.