Huntington National Bank Sells 5,061 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Huntington National Bank trimmed its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 213,270 shares of the insurance provider’s stock after selling 5,061 shares during the quarter. Huntington National Bank owned about 0.14% of Cincinnati Financial worth $29,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. increased its stake in Cincinnati Financial by 7.4% in the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock worth $155,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock valued at $761,000 after purchasing an additional 80 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 80 shares in the last quarter. Hartford Investment Management Co. boosted its position in Cincinnati Financial by 0.8% during the third quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock valued at $1,384,000 after purchasing an additional 80 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its stake in Cincinnati Financial by 4.3% in the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock valued at $271,000 after buying an additional 95 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Down 0.3 %

Shares of CINF stock opened at $150.78 on Thursday. The stock has a 50 day moving average of $138.70 and a 200 day moving average of $127.56. 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 cap of $23.57 billion, a P/E ratio of 7.75, a P/E/G ratio of 2.87 and a beta of 0.65. Cincinnati Financial Co. has a twelve month low of $99.61 and a twelve month high of $152.30.

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 25.26% and a return on equity of 8.25%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business posted $1.66 earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts expect that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.15%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 16.65%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Roth Mkm increased their price target on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Bank of America raised their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler raised their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Three 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

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.