Cincinnati Financial Corporation $CINF Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 12.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 953,636 shares of the insurance provider’s stock after selling 141,464 shares during the period. Royal Bank of Canada’s holdings in Cincinnati Financial were worth $150,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lodestone Wealth Management LLC purchased a new position in shares of Cincinnati Financial in the 4th quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in Cincinnati Financial during the fourth quarter worth about $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial during the first quarter worth about $34,000. DV Equities LLC purchased a new position in shares of Cincinnati Financial in the 4th quarter worth about $36,000. Finally, Legacy Wealth Managment LLC ID raised its holdings in shares of Cincinnati Financial by 78.8% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 108 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 3.6%

CINF opened at $174.73 on Friday. The firm’s 50 day moving average is $174.58 and its 200-day moving average is $167.09. 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 0.31 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $26.82 billion, a P/E ratio of 8.24, a P/E/G ratio of 3.75 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter last year, the company posted $1.97 earnings per share. Analysts expect that Cincinnati Financial Corporation will post 8.67 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is presently 17.74%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $197.00 to $193.00 in a research report on Thursday. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Roth Capital increased their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average price target of $197.60.

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.