Summit Global Investments Cuts Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Summit Global Investments decreased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,432 shares of the insurance provider’s stock after selling 6,427 shares during the quarter. Summit Global Investments’ holdings in Cincinnati Financial were worth $924,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cincinnati Financial during the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new position in Cincinnati Financial in the 3rd quarter worth approximately $28,000. Y.D. More Investments Ltd lifted its position in Cincinnati Financial by 121.8% in the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 106 shares in the last quarter. True Wealth Design LLC purchased a new stake in Cincinnati Financial during the 3rd quarter valued at $42,000. Finally, Quarry LP bought a new stake in shares of Cincinnati Financial in the 3rd quarter worth $43,000. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of CINF opened at $145.62 on Monday. The firm has a market capitalization of $22.80 billion, a P/E ratio of 10.03, a PEG 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. Cincinnati Financial Co. has a one year low of $109.93 and a one year high of $161.75. The business has a fifty day moving average of $139.96 and a 200 day moving average of $142.43.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts anticipate that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.39%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s payout ratio is 23.97%.

Analyst Ratings Changes

CINF has been the topic of a number of research analyst reports. Roth Mkm upped their price target on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

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.