Bank of Montreal Can Reduces Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Bank of Montreal Can lessened its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 188,435 shares of the insurance provider’s stock after selling 38,187 shares during the quarter. Bank of Montreal Can owned 0.12% of Cincinnati Financial worth $25,559,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased its position in shares of Cincinnati Financial by 2.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock valued at $460,000 after purchasing an additional 68 shares during the last quarter. Wealth Dimensions Group Ltd. increased its holdings in Cincinnati Financial by 0.9% during the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock valued at $1,098,000 after buying an additional 75 shares during the last quarter. UMB Bank n.a. increased its holdings in Cincinnati Financial by 7.4% during the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after buying an additional 79 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake 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 worth $33,000 after acquiring an additional 80 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cincinnati Financial by 1.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CINF shares. Bank of America raised their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. 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. Finally, Piper Sandler boosted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $159.83 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 52 week low of $100.31 and a 52 week high of $161.74. The stock’s 50-day simple moving average is $143.65 and its 200-day simple moving average is $130.86. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 3.06 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm posted $1.66 earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, analysts expect that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.03%. 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.