Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,732 shares of the insurance provider’s stock after selling 60,702 shares during the period. Cincinnati Financial makes up 0.3% of Verition Fund Management LLC’s holdings, making the stock its 19th largest position. Verition Fund Management LLC’s holdings in Cincinnati Financial were worth $62,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CINF. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Cincinnati Financial in the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Cincinnati Financial in the third quarter worth approximately $27,000. Rothschild Investment LLC acquired a new stake in shares of Cincinnati Financial during the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in Cincinnati Financial during the third quarter valued at $29,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after buying an additional 80 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CINF. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler increased their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Bank of America lifted their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $160.16 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $25.04 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 3.06 and a beta of 0.65. The firm has a 50 day moving average of $143.14 and a 200-day moving average of $130.57. Cincinnati Financial Co. has a 1 year low of $99.92 and a 1 year high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) 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 net margin of 25.26% and a return on equity of 8.25%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 earnings per share. As a group, sell-side analysts anticipate that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, December 19th. 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.