Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 14.2% during the 3rd quarter, Holdings Channel reports. The firm owned 78,207 shares of the insurance provider’s stock after selling 12,984 shares during the period. NFJ Investment Group LLC’s holdings in Cincinnati Financial were worth $10,646,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CINF. Charles Schwab Investment Management Inc. increased its position in shares of Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after acquiring an additional 329,435 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Cincinnati Financial by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after acquiring an additional 277,550 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after acquiring an additional 187,934 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after acquiring an additional 107,081 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CINF. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler lifted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Bank of America lifted their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Stock Down 0.1 %

Shares of CINF stock traded down $0.16 on Tuesday, reaching $157.42. 52,175 shares of the company’s stock traded hands, compared to its average volume of 688,063. The company has a market capitalization of $24.61 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 3.05 and a beta of 0.69. Cincinnati Financial Co. has a 12-month low of $100.31 and a 12-month high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The business’s 50 day moving average price is $144.07 and its two-hundred day moving average price is $131.32.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data 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 firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. Cincinnati Financial’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 EPS. On average, equities analysts forecast that Cincinnati Financial Co. will post 6.31 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company 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 dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.06%. Cincinnati Financial’s payout ratio is 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.