Cognios Beta Neutral Large Cap Fund LP Takes Position in Cincinnati Financial Co. (NASDAQ:CINF)

Cognios Beta Neutral Large Cap Fund LP bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,893 shares of the insurance provider’s stock, valued at approximately $403,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CINF. Octavia Wealth Advisors LLC grew its position in Cincinnati Financial by 0.9% during the third quarter. Octavia Wealth Advisors LLC now owns 11,258 shares of the insurance provider’s stock worth $1,160,000 after buying an additional 101 shares in the last quarter. Pinion Investment Advisors LLC grew its position in Cincinnati Financial by 2.9% during the fourth quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock worth $374,000 after buying an additional 101 shares in the last quarter. Belpointe Asset Management LLC grew its position in Cincinnati Financial by 3.0% during the third quarter. Belpointe Asset Management LLC now owns 3,568 shares of the insurance provider’s stock worth $365,000 after buying an additional 103 shares in the last quarter. UMB Bank n.a. grew its position in Cincinnati Financial by 11.6% during the fourth quarter. UMB Bank n.a. now owns 1,004 shares of the insurance provider’s stock worth $104,000 after buying an additional 104 shares in the last quarter. Finally, Allworth Financial LP grew its position in Cincinnati Financial by 2.0% during the third quarter. Allworth Financial LP now owns 5,316 shares of the insurance provider’s stock worth $544,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup upped their target price on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $125.00 to $135.00 in a report on Monday, March 25th. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Hold” and a consensus price target of $123.57.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF traded down $0.91 during mid-day trading on Wednesday, hitting $119.92. 581,511 shares of the stock traded hands, compared to its average volume of 861,385. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a twelve month low of $95.01 and a twelve month high of $124.35. The company has a market cap of $18.79 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 2.44 and a beta of 0.63. The firm has a 50 day simple moving average of $117.43 and a two-hundred day simple moving average of $108.88.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $1.27 EPS. Cincinnati Financial’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were issued a dividend of $0.81 per share. The ex-dividend date was Monday, March 18th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a yield of 2.70%. Cincinnati Financial’s payout ratio is presently 27.76%.

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.