Westpac Banking Corp Cuts Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Westpac Banking Corp lessened its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 74.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,225 shares of the insurance provider’s stock after selling 3,502 shares during the period. Westpac Banking Corp’s holdings in Cincinnati Financial were worth $176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CINF. Simon Quick Advisors LLC raised its stake in Cincinnati Financial by 5.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,562 shares of the insurance provider’s stock valued at $224,000 after buying an additional 74 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Cincinnati Financial by 0.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,473 shares of the insurance provider’s stock valued at $2,511,000 after purchasing an additional 78 shares in the last quarter. Tidal Investments LLC raised its holdings in Cincinnati Financial by 1.4% during the third quarter. Tidal Investments LLC now owns 5,819 shares of the insurance provider’s stock worth $792,000 after purchasing an additional 80 shares in the last quarter. Weaver Capital Management LLC lifted its position in shares of Cincinnati Financial by 2.0% during the 4th quarter. Weaver Capital Management LLC now owns 4,167 shares of the insurance provider’s stock worth $599,000 after buying an additional 81 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in shares of Cincinnati Financial by 0.6% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 14,942 shares of the insurance provider’s stock valued at $2,147,000 after buying an additional 94 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 9.0 %

Shares of CINF stock opened at $131.69 on Friday. The company has a market capitalization of $20.62 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $141.11 and its two-hundred day moving average is $142.97. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. Equities analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.87 dividend. The ex-dividend date is Monday, March 24th. This represents a $3.48 dividend on an annualized basis and a yield of 2.64%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio (DPR) is presently 23.97%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Roth Mkm upped their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $154.20.

About Cincinnati Financial

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.