Westpac Banking Corp Decreases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Westpac Banking Corp lessened its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 74.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,225 shares of the insurance provider’s stock after selling 3,502 shares during the quarter. Westpac Banking Corp’s holdings in Cincinnati Financial were worth $176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cincinnati Financial during the fourth quarter worth about $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter worth approximately $28,000. Y.D. More Investments Ltd boosted its stake in shares of Cincinnati Financial by 121.8% during the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 106 shares in the last quarter. Quarry LP acquired a new stake in shares of Cincinnati Financial in the 3rd quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC increased its stake in Cincinnati Financial by 157.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the topic of several research reports. Roth Mkm upped their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.20.

Cincinnati Financial Trading Down 9.0 %

Cincinnati Financial stock opened at $131.69 on Friday. The stock has a market cap of $20.62 billion, a PE ratio of 9.07, a P/E/G ratio of 8.30 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $141.11 and a 200 day moving average price of $142.97. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. Equities research analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a dividend yield of 2.64%. Cincinnati Financial’s dividend payout ratio (DPR) is 23.97%.

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.