Monarch Capital Management Inc. Trims Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Monarch Capital Management Inc. lessened its position in Cincinnati Financial Co. (NASDAQ:CINF) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,525 shares of the insurance provider’s stock after selling 274 shares during the quarter. Monarch Capital Management Inc.’s holdings in Cincinnati Financial were worth $4,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CINF. American Century Companies Inc. lifted its position in Cincinnati Financial by 3.2% during the second quarter. American Century Companies Inc. now owns 48,523 shares of the insurance provider’s stock valued at $5,731,000 after buying an additional 1,485 shares during the period. Federated Hermes Inc. purchased a new position in Cincinnati Financial during the 2nd quarter valued at about $89,000. Envestnet Asset Management Inc. boosted its stake in Cincinnati Financial by 24.5% during the second quarter. Envestnet Asset Management Inc. now owns 131,976 shares of the insurance provider’s stock worth $15,586,000 after acquiring an additional 25,937 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cincinnati Financial by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Cincinnati Financial by 4.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 56,195 shares of the insurance provider’s stock valued at $6,637,000 after purchasing an additional 2,461 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Down 1.6 %

Cincinnati Financial stock opened at $140.66 on Friday. Cincinnati Financial Co. has a 12 month low of $104.78 and a 12 month high of $161.74. The stock has a fifty day simple moving average of $148.67 and a two-hundred day simple moving average of $138.29. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The firm has a market cap of $21.99 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 2.25 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 earnings per share. Equities analysts predict that Cincinnati Financial Co. will post 6.3 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, December 19th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Insiders Place Their Bets

In related news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the purchase, the director now directly owns 54,500 shares of the company’s stock, valued at $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CINF. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler lifted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Cincinnati Financial Company 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.