QRG Capital Management Inc. Reduces Stock Holdings in Cincinnati Financial Corporation $CINF

QRG Capital Management Inc. lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 79.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,939 shares of the insurance provider’s stock after selling 39,486 shares during the quarter. QRG Capital Management Inc.’s holdings in Cincinnati Financial were worth $1,571,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. AlphaQuest LLC increased its position in Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 200 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Cincinnati Financial during the 3rd quarter worth about $34,000. SJS Investment Consulting Inc. grew its holdings in Cincinnati Financial by 2,538.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 343 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 330 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Cincinnati Financial in the 2nd quarter worth about $60,000. Finally, GoalVest Advisory LLC lifted its stake in Cincinnati Financial by 58.9% in the second quarter. GoalVest Advisory LLC now owns 410 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 152 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction dated Tuesday, October 28th. The stock was purchased at an average price of $153.98 per share, with a total value of $153,980.00. Following the transaction, the director owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Roth Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler boosted their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $170.75.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $160.81 on Wednesday. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $169.86. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $164.41 and a two-hundred day simple moving average of $157.75. The stock has a market capitalization of $25.09 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 3.66 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, beating the consensus estimate of $2.01 by $0.84. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the firm posted $1.42 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd were issued a $0.87 dividend. The ex-dividend date was Monday, December 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial’s payout ratio is currently 25.89%.

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.