Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by US Bancorp DE

US Bancorp DE reduced its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 0.9% during the 3rd quarter, Holdings Channel reports. The firm owned 477,074 shares of the insurance provider’s stock after selling 4,429 shares during the quarter. US Bancorp DE’s holdings in Cincinnati Financial were worth $64,939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Direct Indexing L.P. grew its stake in Cincinnati Financial by 8.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,744 shares of the insurance provider’s stock valued at $510,000 after acquiring an additional 291 shares during the period. Golden State Equity Partners purchased a new position in Cincinnati Financial during the third quarter valued at $426,000. Diversify Advisory Services LLC purchased a new position in Cincinnati Financial during the third quarter valued at $280,000. abrdn plc grew its position in shares of Cincinnati Financial by 10.6% in the third quarter. abrdn plc now owns 68,308 shares of the insurance provider’s stock valued at $9,274,000 after purchasing an additional 6,556 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in shares of Cincinnati Financial by 22.3% during the third quarter. Pallas Capital Advisors LLC now owns 6,381 shares of the insurance provider’s stock worth $882,000 after purchasing an additional 1,162 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CINF shares. Bank of America lifted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Roth Mkm boosted their price target on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler raised their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $140.83 on Friday. Cincinnati Financial Co. has a fifty-two week low of $98.65 and a fifty-two week high of $145.33. The firm has a market capitalization of $22.01 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The stock’s fifty day moving average is $136.98 and its two-hundred day moving average is $125.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm posted $1.66 EPS. The company’s revenue was up 21.5% compared to the same quarter last year. On average, research analysts anticipate that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

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.