Cincinnati Financial Co. (NASDAQ:CINF) Stake Trimmed by Haverford Trust Co

Haverford Trust Co lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 67.4% during the third quarter, HoldingsChannel reports. The firm owned 7,081 shares of the insurance provider’s stock after selling 14,671 shares during the period. Haverford Trust Co’s holdings in Cincinnati Financial were worth $964,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CINF. Avantax Advisory Services Inc. increased its stake in Cincinnati Financial by 24.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,604 shares of the insurance provider’s stock worth $696,000 after purchasing an additional 1,085 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Cincinnati Financial by 330.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 11,440 shares of the insurance provider’s stock worth $1,421,000 after purchasing an additional 8,784 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in Cincinnati Financial in the 1st quarter worth about $483,000. State Board of Administration of Florida Retirement System grew its stake in Cincinnati Financial by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock valued at $23,367,000 after acquiring an additional 7,709 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Cincinnati Financial by 10.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,748 shares of the insurance provider’s stock valued at $29,645,000 after acquiring an additional 22,252 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CINF shares. Bank of America lifted their target price on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Piper Sandler lifted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Roth Mkm lifted their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted 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. Three 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, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Stock Down 0.3 %

CINF opened at $150.78 on Thursday. The business has a 50 day moving average price of $138.70 and a 200 day moving average price of $127.56. Cincinnati Financial Co. has a twelve month low of $99.61 and a twelve month high of $152.30. 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 firm has a market cap of $23.57 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 2.87 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its 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 return on equity of 8.25% and a net margin of 25.26%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $1.66 earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts forecast that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.15%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 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.