Kingsview Wealth Management LLC decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF – Free Report) by 85.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,674 shares of the insurance provider’s stock after selling 15,977 shares during the period. Kingsview Wealth Management LLC’s holdings in Cincinnati Financial were worth $364,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CINF. Moisand Fitzgerald Tamayo LLC acquired a new stake in Cincinnati Financial during the third quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in Cincinnati Financial during the third quarter worth $27,000. Future Financial Wealth Managment LLC acquired a new stake in Cincinnati Financial during the third quarter worth $29,000. Massmutual Trust Co. FSB ADV boosted its stake in Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in Cincinnati Financial during the third quarter worth $33,000. Institutional investors and hedge funds own 65.24% of the company’s stock.
Cincinnati Financial Stock Performance
Cincinnati Financial stock opened at $160.16 on Friday. The stock has a 50-day simple moving average of $143.14 and a 200 day simple moving average of $130.57. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 12-month low of $99.92 and a 12-month high of $161.74. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 3.04 and a beta of 0.65.
Cincinnati Financial Dividend Announcement
The firm also recently declared 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. The ex-dividend date is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.02%. Cincinnati Financial’s dividend payout ratio is 16.65%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Bank of America lifted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.
Get Our Latest Stock Report on CINF
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.
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