Narwhal Capital Management Lowers Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Narwhal Capital Management lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 32.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 42,338 shares of the insurance provider’s stock after selling 20,267 shares during the quarter. Narwhal Capital Management’s holdings in Cincinnati Financial were worth $6,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Thistle LLC grew its stake in shares of Cincinnati Financial by 177.8% in the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after acquiring an additional 5,485 shares during the last quarter. World Investment Advisors LLC bought a new position in Cincinnati Financial in the 3rd quarter worth about $546,000. JPMorgan Chase & Co. grew its position in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after purchasing an additional 147,542 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Cincinnati Financial by 10.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock valued at $15,923,000 after purchasing an additional 11,282 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Cincinnati Financial by 2.7% in the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock worth $26,019,000 after buying an additional 5,097 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the acquisition, the director now directly owns 54,500 shares of the company’s stock, valued at $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CINF shares. Bank of America raised their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler upped their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average price target of $143.33.

Cincinnati Financial Stock Up 0.9 %

CINF stock opened at $137.24 on Monday. The business’s 50-day moving average is $147.43 and its two-hundred day moving average is $139.05. The company has a market cap of $21.45 billion, a price-to-earnings ratio of 7.05, a P/E/G ratio of 2.42 and a beta of 0.71. Cincinnati Financial Co. has a fifty-two week low of $104.78 and a fifty-two week high of $161.74. 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 earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm posted $1.66 earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, analysts forecast that Cincinnati Financial Co. will post 6.33 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, December 19th were given a dividend of $0.81 per share. The ex-dividend date was Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.36%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

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.