Denali Advisors LLC Reduces Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Denali Advisors LLC trimmed its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 19.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 413 shares of the insurance provider’s stock after selling 102 shares during the period. Denali Advisors LLC’s holdings in Cincinnati Financial were worth $51,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in shares of Cincinnati Financial by 25.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,086 shares of the insurance provider’s stock valued at $2,494,000 after buying an additional 4,024 shares during the last quarter. Trilogy Capital Inc. purchased a new position in Cincinnati Financial during the 1st quarter worth $3,000,000. Hennion & Walsh Asset Management Inc. grew its position in Cincinnati Financial by 117.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,558 shares of the insurance provider’s stock worth $566,000 after purchasing an additional 2,461 shares during the last quarter. Hengehold Capital Management LLC grew its position in Cincinnati Financial by 8.5% during the 1st quarter. Hengehold Capital Management LLC now owns 17,619 shares of the insurance provider’s stock worth $2,188,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Cincinnati Financial by 24.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 85,475 shares of the insurance provider’s stock worth $10,613,000 after purchasing an additional 16,735 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF traded down $2.13 during midday trading on Wednesday, hitting $116.72. The company had a trading volume of 485,607 shares, compared to its average volume of 786,252. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a twelve month low of $95.81 and a twelve month high of $124.35. The business has a 50-day simple moving average of $116.40 and a two-hundred day simple moving average of $114.14. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 2.54 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.69 by $0.03. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities research analysts anticipate that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was purchased at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the acquisition, the director now owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler reissued a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a research report on Monday, April 1st. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $127.80.

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.