Desjardins Global Asset Management Inc. Sells 1,854 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Desjardins Global Asset Management Inc. lessened its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 64.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,008 shares of the insurance provider’s stock after selling 1,854 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Cincinnati Financial were worth $104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CINF. American Century Companies Inc. increased its holdings in Cincinnati Financial by 14.4% in the 1st quarter. American Century Companies Inc. now owns 12,234 shares of the insurance provider’s stock valued at $1,663,000 after buying an additional 1,536 shares during the period. Raymond James Trust N.A. bought a new stake in Cincinnati Financial in the 1st quarter valued at $779,000. Cibc World Market Inc. bought a new stake in Cincinnati Financial in the 1st quarter valued at $713,000. Blair William & Co. IL increased its holdings in Cincinnati Financial by 12.1% in the 1st quarter. Blair William & Co. IL now owns 3,319 shares of the insurance provider’s stock valued at $451,000 after buying an additional 357 shares during the period. Finally, Aviva PLC increased its holdings in Cincinnati Financial by 56.5% in the 1st quarter. Aviva PLC now owns 92,169 shares of the insurance provider’s stock valued at $12,531,000 after buying an additional 33,270 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 2.1 %

Shares of NASDAQ CINF opened at $119.95 on Friday. The firm’s 50-day simple moving average is $116.99 and its 200 day simple moving average is $108.48. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 12-month low of $95.01 and a 12-month high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.33. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, research analysts expect that Cincinnati Financial Co. will post 6.2 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

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

Analysts Set New Price Targets

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

Cincinnati Financial 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.