Commonwealth Equity Services LLC Trims Holdings in Cincinnati Financial Corporation $CINF

Commonwealth Equity Services LLC lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 25.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,449 shares of the insurance provider’s stock after selling 15,225 shares during the period. Commonwealth Equity Services LLC’s holdings in Cincinnati Financial were worth $7,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quintet Private Bank Europe S.A. acquired a new position in shares of Cincinnati Financial during the 2nd quarter valued at about $25,000. AlphaQuest LLC boosted its holdings in Cincinnati Financial by 714.3% in the 2nd quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Carderock Capital Management Inc. purchased a new stake in shares of Cincinnati Financial in the 2nd quarter valued at approximately $45,000. SJS Investment Consulting Inc. increased its holdings in shares of Cincinnati Financial by 2,538.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 343 shares of the insurance provider’s stock worth $54,000 after buying an additional 330 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Cincinnati Financial during the 2nd quarter valued at approximately $60,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CINF. Piper Sandler increased their price objective on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Roth Capital reiterated a “buy” rating and set a $175.00 price target on shares of Cincinnati Financial in a report on Tuesday, October 28th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.75.

Insider Transactions 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, October 28th. The shares were bought at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the acquisition, the director directly owned 58,482 shares in the company, valued at $9,005,058.36. This represents a 1.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.83% of the stock is currently owned by company insiders.

Cincinnati Financial Price Performance

CINF stock opened at $161.01 on Wednesday. The business’s fifty day moving average price is $164.54 and its 200 day moving average price is $157.25. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $169.86. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $25.12 billion, a PE ratio of 11.98, a P/E/G ratio of 3.69 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.84. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.Cincinnati Financial’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. On average, sell-side analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be issued a $0.87 dividend. The ex-dividend date is Monday, December 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s payout ratio is 25.89%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.