Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its position in Cincinnati Financial Co. (NASDAQ:CINF) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,343 shares of the insurance provider’s stock after selling 1,395 shares during the period. Citigroup Inc.’s holdings in Cincinnati Financial were worth $19,784,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Cincinnati Financial by 26.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after acquiring an additional 1,218,919 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Cincinnati Financial by 1.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock worth $178,845,000 after purchasing an additional 16,451 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after buying an additional 107,081 shares during the period. Finally, AQR Capital Management LLC lifted its position in Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after buying an additional 277,550 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Bank of America upped their price target on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler lifted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two investment 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 has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Up 0.1 %

Shares of NASDAQ CINF opened at $159.61 on Wednesday. Cincinnati Financial Co. has a 12-month low of $99.92 and a 12-month high of $159.81. The stock has a market cap of $24.95 billion, a P/E ratio of 8.20, a PEG ratio of 2.99 and a beta of 0.65. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $142.18 and its 200-day simple moving average is $130.16.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the business posted $1.66 EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, equities analysts predict that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 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.