Monarch Capital Management Inc. Lowers Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Monarch Capital Management Inc. lowered its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 28,525 shares of the insurance provider’s stock after selling 274 shares during the period. Monarch Capital Management Inc.’s holdings in Cincinnati Financial were worth $4,122,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC boosted its stake in Cincinnati Financial by 28.1% in the 4th quarter. HB Wealth Management LLC now owns 2,620 shares of the insurance provider’s stock worth $376,000 after purchasing an additional 574 shares during the period. Verity & Verity LLC lifted its holdings in shares of Cincinnati Financial by 7.9% in the fourth quarter. Verity & Verity LLC now owns 98,573 shares of the insurance provider’s stock worth $14,165,000 after buying an additional 7,205 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Cincinnati Financial during the fourth quarter worth $614,000. Avanza Fonder AB purchased a new position in Cincinnati Financial during the fourth quarter valued at $1,942,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Cincinnati Financial by 25.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,413 shares of the insurance provider’s stock valued at $1,784,000 after acquiring an additional 2,548 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CINF shares. Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Bank of America increased their price target 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Insiders Place Their Bets

In related news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the purchase, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. The trade was a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.83% of the company’s stock.

Cincinnati Financial Price Performance

CINF stock opened at $140.66 on Friday. The stock has a market cap of $21.99 billion, a PE ratio of 7.23, a P/E/G ratio of 2.25 and a beta of 0.71. Cincinnati Financial Co. has a 12 month low of $104.78 and a 12 month high of $161.74. The company has a 50-day moving average price of $148.67 and a 200 day moving average price of $138.29. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06.

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 analysts’ expectations of $2.24 billion. During the same quarter last year, the firm earned $1.66 EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Equities research analysts anticipate that Cincinnati Financial Co. will post 6.3 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, December 19th. 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.