Goldman Sachs Group Inc. Has $128.87 Million Position in Cincinnati Financial Corporation $CINF

Goldman Sachs Group Inc. reduced its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 789,036 shares of the insurance provider’s stock after selling 21,201 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Cincinnati Financial were worth $128,865,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CINF. Lodestone Wealth Management LLC acquired a new position in Cincinnati Financial in the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in Cincinnati Financial in the third quarter valued at approximately $30,000. Legacy Wealth Managment LLC ID raised its holdings in Cincinnati Financial by 78.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 108 shares during the period. Oakworth Capital Inc. acquired a new stake in Cincinnati Financial in the fourth quarter worth $46,000. Finally, West Branch Capital LLC acquired a new stake in Cincinnati Financial in the fourth quarter worth $48,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CINF. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 27th. Roth Mkm raised their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Piper Sandler raised their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Bank of America decreased their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Stock Performance

Shares of CINF opened at $162.25 on Tuesday. The firm has a 50-day moving average of $162.86 and a 200-day moving average of $163.42. Cincinnati Financial Corporation has a one year low of $143.37 and a one year high of $174.27. The company has a market cap of $25.10 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28.

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

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 21.50%.

About Cincinnati Financial

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.