D.A. Davidson & CO. Sells 200 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

D.A. Davidson & CO. reduced its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,250 shares of the insurance provider’s stock after selling 200 shares during the quarter. D.A. Davidson & CO.’s holdings in Cincinnati Financial were worth $579,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vest Financial LLC lifted its holdings in Cincinnati Financial by 14.0% in the 2nd quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after purchasing an additional 46,530 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Cincinnati Financial by 91.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock valued at $14,016,000 after purchasing an additional 56,686 shares during the last quarter. Amalgamated Bank grew its position in shares of Cincinnati Financial by 30.5% during the second quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock valued at $4,976,000 after purchasing an additional 9,854 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cincinnati Financial by 10.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock worth $15,923,000 after buying an additional 11,282 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Cincinnati Financial by 6.2% during the 2nd quarter. National Bank of Canada FI now owns 143,127 shares of the insurance provider’s stock valued at $17,059,000 after buying an additional 8,353 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Bank of America lifted their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Piper Sandler raised their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Down 1.4 %

Cincinnati Financial stock opened at $157.58 on Tuesday. Cincinnati Financial Co. has a 12 month low of $100.31 and a 12 month high of $161.74. The stock has a market capitalization of $24.63 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 3.05 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50 day simple moving average of $144.07 and a 200-day simple moving average of $131.32.

Cincinnati Financial (NASDAQ:CINF) last released 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 net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the business earned $1.66 EPS. The business’s revenue was up 21.5% compared to the same quarter last year. On average, analysts anticipate that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is currently 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.