Cincinnati Financial Co. (NASDAQ:CINF) Position Boosted by Barclays PLC

Barclays PLC increased its holdings in Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 46.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,209 shares of the insurance provider’s stock after buying an additional 100,258 shares during the quarter. Barclays PLC owned about 0.20% of Cincinnati Financial worth $28,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its holdings in Cincinnati Financial by 1,213.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 86,008 shares of the insurance provider’s stock worth $7,703,000 after buying an additional 79,458 shares in the last quarter. Ellevest Inc. grew its holdings in Cincinnati Financial by 20.6% in the 3rd quarter. Ellevest Inc. now owns 814 shares of the insurance provider’s stock worth $73,000 after buying an additional 139 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Cincinnati Financial by 3.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,120 shares of the insurance provider’s stock worth $906,000 after buying an additional 370 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Cincinnati Financial by 21.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 41,368 shares of the insurance provider’s stock worth $3,774,000 after buying an additional 7,356 shares in the last quarter. Finally, Hartford Investment Management Co. grew its holdings in Cincinnati Financial by 2.1% in the 3rd quarter. Hartford Investment Management Co. now owns 14,723 shares of the insurance provider’s stock worth $1,319,000 after buying an additional 300 shares in the last quarter. 66.34% of the stock is owned by institutional investors.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 6th. The stock was bought at an average price of $106.13 per share, for a total transaction of $106,130.00. Following the completion of the acquisition, the director now directly owns 45,502 shares of the company’s stock, valued at $4,829,127.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.95% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $102.73 on Monday. The stock has a fifty day moving average of $106.31 and a 200-day moving average of $103.04. The company has a market capitalization of $16.15 billion, a PE ratio of -285.36 and a beta of 0.62. Cincinnati Financial Co. has a one year low of $88.66 and a one year high of $143.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINFGet Rating) last released its earnings results on Monday, October 31st. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.61 billion. Cincinnati Financial had a positive return on equity of 7.00% and a negative net margin of 0.43%. The company’s revenue for the quarter was down 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 4.2 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. Stockholders of record on Friday, December 16th were issued a $0.60 dividend. The ex-dividend date was Thursday, December 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.34%. Cincinnati Financial’s payout ratio is currently -766.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CINF shares. Piper Sandler upped their target price on Cincinnati Financial from $98.00 to $100.00 in a research report on Tuesday, January 10th. Bank of America started coverage on Cincinnati Financial in a research report on Tuesday, September 27th. They issued a “neutral” rating and a $92.00 target price for the company. StockNews.com downgraded Cincinnati Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. BMO Capital Markets assumed coverage on Cincinnati Financial in a research report on Thursday. They set a “market perform” rating and a $106.00 price objective for the company. Finally, MKM Partners increased their price objective 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, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $107.00.

Cincinnati Financial Company Profile

(Get Rating)

Cincinnati Financial Corp. provides property casualty and life insurance services. It operates through the following segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment includes commercial casualty, commercial property, commercial auto, worker’s compensation, and other commercial lines insurance.

See Also

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

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