Farmers Trust Co. Trims Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Farmers Trust Co. decreased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,705 shares of the insurance provider’s stock after selling 502 shares during the period. Farmers Trust Co.’s holdings in Cincinnati Financial were worth $3,813,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CINF. Norges Bank purchased a new position in Cincinnati Financial during the fourth quarter valued at approximately $179,305,000. AQR Capital Management LLC grew its stake in Cincinnati Financial by 1,870.3% during the third quarter. AQR Capital Management LLC now owns 274,030 shares of the insurance provider’s stock valued at $28,031,000 after acquiring an additional 260,122 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Cincinnati Financial during the fourth quarter valued at approximately $21,036,000. London Co. of Virginia grew its stake in Cincinnati Financial by 7.8% during the third quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock valued at $283,658,000 after acquiring an additional 200,414 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Cincinnati Financial by 16.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock valued at $134,077,000 after acquiring an additional 186,629 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.1 %

NASDAQ:CINF traded up $1.30 during midday trading on Thursday, reaching $114.97. 29,179 shares of the stock traded hands, compared to its average volume of 774,680. The company has a fifty day moving average of $116.71 and a 200 day moving average of $113.24. Cincinnati Financial Co. has a 12 month low of $95.01 and a 12 month high of $124.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market capitalization of $18.00 billion, a P/E ratio of 7.56, a PEG ratio of 2.43 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted $0.89 EPS. The firm’s revenue was up 31.0% compared to the same quarter last year. On average, research analysts predict that Cincinnati Financial Co. will post 6.37 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, June 18th. This represents a $3.24 dividend on an annualized basis and a yield of 2.82%. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CINF shares. Citigroup lifted their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler reiterated a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $126.00.

Insider Activity at Cincinnati Financial

In other news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the acquisition, the director now directly owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by company insiders.

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.