PNC Financial Services Group Inc. Reduces Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

PNC Financial Services Group Inc. decreased its position in Cincinnati Financial Co. (NASDAQ:CINF) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,718 shares of the insurance provider’s stock after selling 1,840 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cincinnati Financial were worth $55,428,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CINF. Charles Schwab Investment Management Inc. grew its position in shares of Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after acquiring an additional 1,218,919 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after acquiring an additional 329,435 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cincinnati Financial by 49.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after acquiring an additional 147,542 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Cincinnati Financial by 3,381.8% in the 4th quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock worth $20,228,000 after acquiring an additional 136,725 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Cincinnati Financial by 73.8% in the 4th quarter. Victory Capital Management Inc. now owns 310,079 shares of the insurance provider’s stock worth $44,558,000 after acquiring an additional 131,625 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.6 %

NASDAQ:CINF opened at $139.96 on Monday. Cincinnati Financial Co. has a 12-month low of $109.93 and a 12-month high of $161.74. The firm has a market capitalization of $21.91 billion, a P/E ratio of 9.64, a P/E/G ratio of 8.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The business has a 50 day simple moving average of $139.55 and a 200 day simple moving average of $141.82.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Equities research analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Monday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s payout ratio is 23.97%.

Analysts Set New Price Targets

Several brokerages have recently commented on CINF. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Roth Mkm boosted their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Cincinnati Financial 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.