Daiwa Securities Group Inc. Reduces Position in Cincinnati Financial Co. (NASDAQ:CINF)

Daiwa Securities Group Inc. decreased its position in Cincinnati Financial Co. (NASDAQ:CINF) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,496 shares of the insurance provider’s stock after selling 396 shares during the period. Daiwa Securities Group Inc.’s holdings in Cincinnati Financial were worth $3,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Dimensions Group Ltd. raised its stake in shares of Cincinnati Financial by 0.9% in the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock worth $1,098,000 after purchasing an additional 75 shares during the last quarter. Cerity Partners LLC increased its holdings in Cincinnati Financial by 43.7% in the 3rd quarter. Cerity Partners LLC now owns 31,788 shares of the insurance provider’s stock worth $4,327,000 after buying an additional 9,671 shares during the period. Biltmore Family Office LLC purchased a new position in Cincinnati Financial during the 3rd quarter worth approximately $207,000. Charles Schwab Investment Management Inc. lifted its stake in Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after acquiring an additional 1,218,919 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Cincinnati Financial by 16.9% during the 3rd quarter. Intech Investment Management LLC now owns 11,519 shares of the insurance provider’s stock valued at $1,568,000 after acquiring an additional 1,669 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $160.16 on Thursday. The firm has a market cap of $25.04 billion, a PE ratio of 8.23, a P/E/G ratio of 3.04 and a beta of 0.65. Cincinnati Financial Co. has a twelve month low of $99.92 and a twelve month high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $142.66 and a 200 day moving average price of $130.37.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the firm earned $1.66 earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. Sell-side analysts predict that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a $0.81 dividend. The ex-dividend date is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.02%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Bank of America upped their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

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.