Gulf International Bank UK Ltd Sells 533 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Gulf International Bank UK Ltd lessened its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 4.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,408 shares of the insurance provider’s stock after selling 533 shares during the period. Gulf International Bank UK Ltd’s holdings in Cincinnati Financial were worth $1,688,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norden Group LLC purchased a new stake in Cincinnati Financial during the 1st quarter worth approximately $354,000. Nordea Investment Management AB grew its position in Cincinnati Financial by 5.3% during the 1st quarter. Nordea Investment Management AB now owns 10,072 shares of the insurance provider’s stock worth $1,243,000 after purchasing an additional 509 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Cincinnati Financial by 109.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,677 shares of the insurance provider’s stock worth $705,000 after purchasing an additional 2,967 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Cincinnati Financial during the 1st quarter worth approximately $498,000. Finally, Empirical Finance LLC grew its position in Cincinnati Financial by 3.5% during the 1st quarter. Empirical Finance LLC now owns 5,598 shares of the insurance provider’s stock worth $695,000 after purchasing an additional 188 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $147.12 on Friday. The company’s fifty day moving average price is $137.68 and its 200 day moving average price is $126.62. Cincinnati Financial Co. has a 1 year low of $98.65 and a 1 year high of $150.96. The company has a market capitalization of $23.00 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 2.62 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company posted $1.66 earnings per share. The business’s quarterly revenue was up 21.5% on a year-over-year basis. On average, research analysts predict that Cincinnati Financial Co. will post 6.35 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CINF shares. Piper Sandler boosted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Bank of America upped their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Roth Mkm upped their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $138.57.

About Cincinnati Financial

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.