OVERSEA CHINESE BANKING Corp Ltd Sells 344 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

OVERSEA CHINESE BANKING Corp Ltd lessened its position in Cincinnati Financial Co. (NASDAQ:CINF) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,562 shares of the insurance provider’s stock after selling 344 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Cincinnati Financial were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Octavia Wealth Advisors LLC lifted its holdings in Cincinnati Financial by 0.9% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 11,258 shares of the insurance provider’s stock valued at $1,160,000 after purchasing an additional 101 shares during the last quarter. Pinion Investment Advisors LLC boosted its holdings in shares of Cincinnati Financial by 2.9% during the 4th quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock worth $374,000 after buying an additional 101 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of Cincinnati Financial by 3.0% during the 3rd quarter. Belpointe Asset Management LLC now owns 3,568 shares of the insurance provider’s stock worth $365,000 after buying an additional 103 shares during the period. UMB Bank n.a. grew its stake in Cincinnati Financial by 11.6% in the 4th quarter. UMB Bank n.a. now owns 1,004 shares of the insurance provider’s stock valued at $104,000 after buying an additional 104 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Cincinnati Financial by 2.0% in the 3rd quarter. Allworth Financial LP now owns 5,316 shares of the insurance provider’s stock valued at $544,000 after acquiring an additional 105 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. BMO Capital Markets raised 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 report on Monday, March 25th. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Finally, Citigroup boosted their price objective on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.57.

Cincinnati Financial Stock Up 0.8 %

NASDAQ CINF opened at $120.96 on Tuesday. The business has a fifty day moving average price of $117.20 and a two-hundred day moving average price of $108.73. The stock has a market capitalization of $18.95 billion, a PE ratio of 10.37, a PEG ratio of 2.42 and a beta of 0.63. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The business had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the company earned $1.27 EPS. Cincinnati Financial’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts expect that Cincinnati Financial Co. will post 6.33 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 issued a dividend of $0.81 per share. The ex-dividend date was Monday, March 18th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a dividend yield of 2.68%. Cincinnati Financial’s payout ratio is 27.76%.

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.