First Financial Bank Trust Division lowered its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 0.3% in the first quarter, HoldingsChannel reports. The firm owned 131,975 shares of the insurance provider’s stock after selling 424 shares during the quarter. Cincinnati Financial makes up approximately 1.5% of First Financial Bank Trust Division’s holdings, making the stock its 17th biggest holding. First Financial Bank Trust Division’s holdings in Cincinnati Financial were worth $13,606,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in Cincinnati Financial by 3.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 13,377 shares of the insurance provider’s stock worth $1,152,000 after acquiring an additional 435 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Cincinnati Financial by 13.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 178,771 shares of the insurance provider’s stock valued at $15,618,000 after buying an additional 20,571 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Cincinnati Financial in the fourth quarter valued at $234,000. Dimensional Fund Advisors LP lifted its holdings in Cincinnati Financial by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,888 shares of the insurance provider’s stock worth $87,268,000 after buying an additional 41,079 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Cincinnati Financial during the 4th quarter worth about $135,104,000. Institutional investors own 65.26% of the company’s stock.
Several equities research analysts recently weighed in on the company. MKM Partners boosted their target price on Cincinnati Financial from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, March 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Cincinnati Financial from $74.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, February 16th. Finally, Zacks Investment Research raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Thursday, February 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $85.83.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Tuesday, February 9th. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.42. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Analysts anticipate that Cincinnati Financial Co. will post 2.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 17th will be issued a $0.63 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, March 16th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 60.00%.
About Cincinnati Financial
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in 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.
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