Nomura Holdings Inc. Decreases Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Nomura Holdings Inc. lessened its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 44.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,738 shares of the insurance provider’s stock after selling 5,300 shares during the quarter. Nomura Holdings Inc.’s holdings in Cincinnati Financial were worth $697,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in shares of Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 174 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the fourth quarter worth approximately $31,000. Raleigh Capital Management Inc. purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth approximately $31,000. Finally, Integrated Investment Consultants LLC acquired a new position in Cincinnati Financial in the 4th quarter valued at $39,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Cincinnati Financial Stock Up 1.5 %

Shares of NASDAQ CINF opened at $115.40 on Friday. The company has a market capitalization of $18.07 billion, a P/E ratio of 7.68, a P/E/G ratio of 2.43 and a beta of 0.65. 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 company has a 50 day simple moving average of $116.63 and a 200-day simple moving average of $113.25. Cincinnati Financial Co. has a 1 year low of $95.01 and a 1 year high of $124.35.

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

Cincinnati Financial Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were 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 in the company, valued at approximately $6,126,018.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.83% of the stock is currently owned by 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.