Zacks Investment Management Reduces Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Zacks Investment Management trimmed its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,354 shares of the insurance provider's stock after selling 6,895 shares during the period. Zacks Investment Management's holdings in Cincinnati Financial were worth $4,132,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Brown Brothers Harriman & Co. raised its position in Cincinnati Financial by 2.1% during the third quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider's stock valued at $460,000 after acquiring an additional 68 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its stake in shares of Cincinnati Financial by 0.9% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider's stock valued at $1,098,000 after purchasing an additional 75 shares during the period. UMB Bank n.a. lifted its stake in shares of Cincinnati Financial by 7.4% in the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider's stock valued at $155,000 after purchasing an additional 79 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings 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, Northwestern Mutual Wealth Management Co. grew its position in Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider's stock valued at $761,000 after buying an additional 80 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

CINF stock traded down $2.38 during trading on Monday, hitting $153.65. The stock had a trading volume of 362,192 shares, compared to its average volume of 684,894. Cincinnati Financial Co. has a twelve month low of $100.31 and a twelve month high of $161.74. The company's 50-day moving average price is $146.10 and its two-hundred day moving average price is $132.64. 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 stock has a market capitalization of $24.02 billion, a P/E ratio of 7.90, a PEG ratio of 2.98 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business's revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. As a group, research analysts predict that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial's dividend payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of analyst reports. Bank of America upped their price objective 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. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, Piper Sandler increased their price target on 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's stock. According to MarketBeat, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and an average target price of $138.57.

Insider Buying and Selling

In related news, Director Dirk J. Debbink purchased 1,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the acquisition, the director now owns 54,500 shares in the company, valued at $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 2.83% of the stock is currently owned by company insiders.

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.