Allworth Financial LP Has $212,000 Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Allworth Financial LP cut its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 71.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,560 shares of the insurance provider’s stock after selling 3,814 shares during the period. Allworth Financial LP’s holdings in Cincinnati Financial were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CINF. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Cincinnati Financial by 1.1% in the second 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 last quarter. Dimensional Fund Advisors LP lifted its stake in 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 valued at $159,360,000 after acquiring an additional 187,934 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings in Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after acquiring an additional 107,081 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after acquiring an additional 277,550 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake in shares of Cincinnati Financial by 7.8% in the 2nd quarter. Boston Trust Walden Corp now owns 757,795 shares of the insurance provider’s stock worth $89,496,000 after acquiring an additional 55,033 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CINF. Piper Sandler raised their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday. Bank of America lifted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Roth Mkm upped their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, 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 report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $143.44 on Thursday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $136.80 and a two-hundred day simple moving average of $125.76. Cincinnati Financial Co. has a 1-year low of $98.65 and a 1-year high of $145.33. The firm has a market cap of $22.46 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly 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 return on equity of 9.10% and a net margin of 20.20%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $1.66 EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. Analysts anticipate that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 21.56%.

About Cincinnati Financial

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.