Raymond James Financial Services Advisors Inc. Sells 31,794 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Raymond James Financial Services Advisors Inc. decreased its holdings in Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 62.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,901 shares of the insurance provider’s stock after selling 31,794 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cincinnati Financial were worth $1,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janiczek Wealth Management LLC raised its stake in Cincinnati Financial by 1,252.2% in the second quarter. Janiczek Wealth Management LLC now owns 311 shares of the insurance provider’s stock valued at $30,000 after buying an additional 288 shares during the period. Larson Financial Group LLC bought a new stake in Cincinnati Financial in the second quarter valued at approximately $30,000. Wagner Wealth Management LLC bought a new stake in Cincinnati Financial in the second quarter valued at approximately $33,000. J.W. Cole Advisors Inc. bought a new stake in Cincinnati Financial in the first quarter valued at approximately $35,000. Finally, Clear Street Markets LLC raised its stake in Cincinnati Financial by 409.8% in the second quarter. Clear Street Markets LLC now owns 311 shares of the insurance provider’s stock valued at $37,000 after buying an additional 250 shares during the period. Institutional investors own 66.34% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the topic of several research reports. Raymond James initiated coverage on Cincinnati Financial in a research report on Friday, September 23rd. They issued a “market perform” rating on the stock. Piper Sandler upped their target price on Cincinnati Financial from $98.00 to $100.00 in a research report on Tuesday, January 10th. StockNews.com downgraded Cincinnati Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. Bank of America initiated coverage on Cincinnati Financial in a research report on Tuesday, September 27th. They issued a “neutral” rating and a $92.00 target price on the stock. Finally, MKM Partners upped their target price on Cincinnati Financial from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Cincinnati Financial has an average rating of “Hold” and an average price target of $107.33.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, December 6th. The shares were purchased at an average price of $106.13 per share, with a total value of $106,130.00. Following the acquisition, the director now owns 45,502 shares in the company, valued at approximately $4,829,127.26. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.95% of the company’s stock.

Cincinnati Financial Trading Down 1.7 %

Shares of NASDAQ:CINF opened at $104.40 on Thursday. The company has a market capitalization of $16.41 billion, a P/E ratio of -290.00 and a beta of 0.62. Cincinnati Financial Co. has a 1 year low of $88.66 and a 1 year high of $143.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50 day simple moving average is $106.58 and its 200 day simple moving average is $103.41.

Cincinnati Financial (NASDAQ:CINFGet Rating) last issued its quarterly earnings results on Monday, October 31st. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.61 billion. Cincinnati Financial had a positive return on equity of 7.00% and a negative net margin of 0.43%. The firm’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 earnings per share. On average, research analysts anticipate that Cincinnati Financial Co. will post 4.21 EPS for the current fiscal year.

Cincinnati Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 16th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, December 15th. Cincinnati Financial’s dividend payout ratio is presently -766.67%.

Cincinnati Financial Company Profile

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Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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.

See Also

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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