First City Capital Management Inc. Cuts Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

First City Capital Management Inc. reduced its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.0% in the third quarter, HoldingsChannel.com reports. The fund owned 8,798 shares of the insurance provider’s stock after selling 175 shares during the quarter. First City Capital Management Inc.’s holdings in Cincinnati Financial were worth $1,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Moisand Fitzgerald Tamayo LLC bought a new stake in Cincinnati Financial during the third quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in Cincinnati Financial in the 3rd quarter worth approximately $27,000. Future Financial Wealth Managment LLC purchased a new stake in Cincinnati Financial in the third quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV boosted its stake in Cincinnati Financial by 49.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares in the last quarter. Finally, USA Financial Formulas bought a new position in Cincinnati Financial during the third quarter valued at approximately $33,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CINF shares. Roth Mkm upped their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler upped their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. 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. Finally, Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Stock Up 0.2 %

NASDAQ CINF opened at $152.13 on Tuesday. Cincinnati Financial Co. has a 1 year low of $99.61 and a 1 year high of $152.85. The stock has a market capitalization of $23.78 billion, a PE ratio of 7.82, a PEG ratio of 2.89 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50-day moving average is $139.84 and its 200 day moving average is $128.56.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.13%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 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.