ING Groep NV Trims Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

ING Groep NV lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 59.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,875 shares of the insurance provider’s stock after selling 11,489 shares during the period. ING Groep NV’s holdings in Cincinnati Financial were worth $1,072,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CINF. Fort Washington Investment Advisors Inc. OH lifted its holdings in Cincinnati Financial by 1.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock worth $178,845,000 after purchasing an additional 16,451 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after buying an additional 187,934 shares during the period. Bahl & Gaynor Inc. lifted its holdings in shares of Cincinnati Financial by 10.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after buying an additional 107,081 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after acquiring an additional 277,550 shares during the period. Finally, Boston Trust Walden Corp increased its holdings in Cincinnati Financial by 2.6% during the 3rd quarter. Boston Trust Walden Corp now owns 777,588 shares of the insurance provider’s stock worth $105,845,000 after acquiring an additional 19,793 shares during the period. 65.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Roth Mkm raised their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Piper Sandler boosted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Bank of America boosted 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $151.78 on Monday. The stock’s 50-day moving average is $139.54 and its 200 day moving average is $128.31. The stock has a market cap of $23.73 billion, a price-to-earnings ratio of 7.80, a P/E/G ratio of 2.89 and a beta of 0.65. Cincinnati Financial Co. has a 1-year low of $99.61 and a 1-year high of $152.30. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06.

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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business posted $1.66 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Cincinnati Financial Co. will post 6.32 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.13%. Cincinnati Financial’s payout ratio is 16.65%.

Cincinnati Financial 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.