Cincinnati Financial Corporation $CINF Stake Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.1% during the third quarter, HoldingsChannel reports. The fund owned 377,500 shares of the insurance provider’s stock after selling 16,096 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cincinnati Financial were worth $59,683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CINF. LRI Investments LLC bought a new position in shares of Cincinnati Financial during the third quarter worth about $29,000. AlphaQuest LLC grew its position in shares of Cincinnati Financial by 714.3% in the 2nd quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Cincinnati Financial in the 3rd quarter valued at approximately $34,000. Field & Main Bank acquired a new stake in shares of Cincinnati Financial during the 3rd quarter valued at approximately $47,000. Finally, SJS Investment Consulting Inc. lifted its stake in Cincinnati Financial by 2,538.5% during the third quarter. SJS Investment Consulting Inc. now owns 343 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 330 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CINF. Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler upped their target price on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.33.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $163.75 on Thursday. The firm’s 50-day simple moving average is $163.41 and its 200 day simple moving average is $160.23. The stock has a market cap of $25.48 billion, a P/E ratio of 10.79, a P/E/G ratio of 3.58 and a beta of 0.66. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27.

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

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio is 22.94%.

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.