Central Pacific Bank Trust Division Sells 852 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Central Pacific Bank Trust Division reduced its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 6.8% during the 1st quarter, Holdings Channel reports. The firm owned 11,608 shares of the insurance provider’s stock after selling 852 shares during the period. Central Pacific Bank Trust Division’s holdings in Cincinnati Financial were worth $1,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CINF. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Cincinnati Financial in the 4th quarter worth $27,000. Y.D. More Investments Ltd boosted its position in shares of Cincinnati Financial by 121.8% in the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Cincinnati Financial by 157.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 205 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Cincinnati Financial in the 4th quarter worth $50,000. Finally, Kentucky Trust Co bought a new position in shares of Cincinnati Financial in the 4th quarter worth $51,000. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Roth Mkm lifted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Wall Street Zen upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.40.

Cincinnati Financial Stock Performance

CINF stock opened at $149.97 on Friday. The business’s 50-day moving average price is $140.96 and its two-hundred day moving average price is $143.27. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The firm has a market cap of $23.44 billion, a PE ratio of 10.33, a P/E/G ratio of 8.30 and a beta of 0.73. Cincinnati Financial Co. has a 1-year low of $111.92 and a 1-year high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the business posted $1.72 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, research analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial’s dividend payout ratio is 37.95%.

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.