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

Narwhal Capital Management decreased its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 32.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,338 shares of the insurance provider’s stock after selling 20,267 shares during the quarter. Narwhal Capital Management’s holdings in Cincinnati Financial were worth $6,084,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CINF. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Cincinnati Financial in the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC bought a new position in Cincinnati Financial in the third quarter valued at $27,000. Legacy Investment Solutions LLC bought a new stake in Cincinnati Financial during the third quarter worth about $28,000. Future Financial Wealth Managment LLC bought a new stake in Cincinnati Financial during the third quarter worth about $29,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Up 0.9 %

Shares of NASDAQ:CINF opened at $137.24 on Monday. The stock’s 50-day moving average is $147.43 and its 200 day moving average is $139.05. The company has a market cap of $21.45 billion, a PE ratio of 7.05, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 1 year low of $104.78 and a 1 year high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. Cincinnati Financial’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm posted $1.66 earnings per share. Sell-side analysts anticipate that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th were given a $0.81 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.36%. Cincinnati Financial’s dividend payout ratio is 16.65%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the purchase, the director now directly owns 54,500 shares in the company, valued at $8,566,855. This trade represents a 1.87 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.83% of the company’s stock.

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.