American International Group Inc. Has $4.25 Million Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

American International Group Inc. cut its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,117 shares of the insurance provider’s stock after selling 359 shares during the period. American International Group Inc.’s holdings in Cincinnati Financial were worth $4,254,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. increased its stake 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 bought a new stake in shares of Cincinnati Financial during the 4th quarter worth about $27,000. BKM Wealth Management LLC acquired a new position in Cincinnati Financial in the 4th quarter valued at about $31,000. Raleigh Capital Management Inc. bought a new position in Cincinnati Financial in the 4th quarter valued at about $31,000. Finally, Integrated Investment Consultants LLC acquired a new stake in Cincinnati Financial during the fourth quarter worth approximately $39,000. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. Citigroup upped their price target on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Piper Sandler reissued a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. 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 report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $126.00.

Insider Activity

In related news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the transaction, the director now directly owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $115.21 on Monday. The company has a 50 day moving average of $116.56 and a 200-day moving average of $113.48. The company has a market cap of $18.04 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 2.47 and a beta of 0.65. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 1-year low of $95.01 and a 1-year high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue was up 31.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cincinnati Financial Co. will post 6.35 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Cincinnati Financial Company 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.