Victory Capital Management Inc. Decreases Stake in Cincinnati Financial Corporation $CINF

Victory Capital Management Inc. cut its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 1.4% in the third quarter, Holdings Channel reports. The firm owned 219,565 shares of the insurance provider’s stock after selling 3,201 shares during the period. Victory Capital Management Inc.’s holdings in Cincinnati Financial were worth $34,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Bison Wealth LLC acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after acquiring an additional 525 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after acquiring an additional 173,343 shares during the period. Resona Asset Management Co. Ltd. raised its stake in Cincinnati Financial by 5.5% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 64,669 shares of the insurance provider’s stock worth $9,573,000 after acquiring an additional 3,362 shares during the last quarter. Finally, Savant Capital LLC lifted its position in Cincinnati Financial by 29.5% during the 2nd quarter. Savant Capital LLC now owns 30,831 shares of the insurance provider’s stock worth $4,591,000 after acquiring an additional 7,022 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $165.39 on Monday. The company’s fifty day moving average price is $163.47 and its 200 day moving average price is $161.01. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $174.27. The company has a market capitalization of $25.74 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 3.68 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

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

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be paid a $0.94 dividend. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio (DPR) is presently 22.94%.

Wall Street Analysts Forecast Growth

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

Cincinnati Financial Company 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.