Goldman Sachs Group Inc. Sells 135,979 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Goldman Sachs Group Inc. lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 23.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 433,134 shares of the insurance provider’s stock after selling 135,979 shares during the quarter. Goldman Sachs Group Inc. owned 0.28% of Cincinnati Financial worth $44,812,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CINF. Savant Capital LLC grew its position in Cincinnati Financial by 1.6% in the 4th quarter. Savant Capital LLC now owns 6,041 shares of the insurance provider’s stock valued at $625,000 after acquiring an additional 96 shares during the last quarter. Pinion Investment Advisors LLC grew its position in Cincinnati Financial by 2.9% in the 4th quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock valued at $374,000 after acquiring an additional 101 shares during the last quarter. Belpointe Asset Management LLC grew its position in Cincinnati Financial by 3.0% in the 3rd quarter. Belpointe Asset Management LLC now owns 3,568 shares of the insurance provider’s stock valued at $365,000 after acquiring an additional 103 shares during the last quarter. UMB Bank n.a. grew its position in Cincinnati Financial by 11.6% in the 4th quarter. UMB Bank n.a. now owns 1,004 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 104 shares during the last quarter. Finally, Corton Capital Inc. grew its position in shares of Cincinnati Financial by 3.3% during the 3rd quarter. Corton Capital Inc. now owns 3,371 shares of the insurance provider’s stock worth $345,000 after buying an additional 108 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.5 %

Shares of NASDAQ CINF opened at $115.40 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market capitalization of $18.07 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.65. Cincinnati Financial Co. has a 1-year low of $95.01 and a 1-year high of $124.35. The business has a fifty day moving average price of $116.63 and a 200 day moving average price of $113.25.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. Equities research analysts expect that Cincinnati Financial Co. will post 6.37 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 53,988 shares in the company, valued at approximately $6,126,018.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.