Nomura Asset Management Co. Ltd. Trims Stock Position in Cincinnati Financial Corporation $CINF

Nomura Asset Management Co. Ltd. cut its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 8.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 287,379 shares of the insurance provider’s stock after selling 27,432 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cincinnati Financial were worth $46,935,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Essex Financial Services Inc. raised its stake in Cincinnati Financial by 3.5% during the fourth quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 77 shares during the period. MUFG Securities EMEA plc raised its stake in Cincinnati Financial by 240.7% during the fourth quarter. MUFG Securities EMEA plc now owns 10,198 shares of the insurance provider’s stock worth $1,666,000 after purchasing an additional 7,205 shares during the period. BNP Paribas Financial Markets raised its stake in Cincinnati Financial by 28.8% during the fourth quarter. BNP Paribas Financial Markets now owns 325,747 shares of the insurance provider’s stock worth $53,201,000 after purchasing an additional 72,849 shares during the period. Impact Partnership Wealth LLC raised its stake in Cincinnati Financial by 23.5% during the fourth quarter. Impact Partnership Wealth LLC now owns 6,217 shares of the insurance provider’s stock worth $1,015,000 after purchasing an additional 1,184 shares during the period. Finally, Norges Bank purchased a new position in Cincinnati Financial during the fourth quarter worth about $270,892,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $157.42 on Monday. The company’s 50 day simple moving average is $162.59 and its 200-day simple moving average is $163.60. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 3.42 and a beta of 0.57. Cincinnati Financial Corporation has a 1 year low of $143.37 and a 1 year high of $174.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) EPS. As a group, equities research analysts expect that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be issued a $0.94 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.4%. Cincinnati Financial’s payout ratio is 21.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler lifted their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Bank of America reduced their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Roth Mkm lifted their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $183.25.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.