Cerity Partners LLC raised its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 43.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,788 shares of the insurance provider's stock after purchasing an additional 9,671 shares during the period. Cerity Partners LLC's holdings in Cincinnati Financial were worth $4,327,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in CINF. Biltmore Family Office LLC bought a new stake in Cincinnati Financial in the 3rd quarter valued at about $207,000. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $787,076,000 after acquiring an additional 1,218,919 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Cincinnati Financial by 16.9% during the third quarter. Intech Investment Management LLC now owns 11,519 shares of the insurance provider's stock worth $1,568,000 after purchasing an additional 1,669 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Cincinnati Financial by 347.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 52,706 shares of the insurance provider's stock worth $7,174,000 after purchasing an additional 40,925 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Cincinnati Financial by 7.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 12,754 shares of the insurance provider's stock valued at $1,736,000 after purchasing an additional 833 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.
Cincinnati Financial Stock Performance
NASDAQ:CINF traded down $0.33 during trading on Friday, reaching $159.83. The company's stock had a trading volume of 361,209 shares, compared to its average volume of 691,488. The firm has a market cap of $24.98 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 3.06 and a beta of 0.65. Cincinnati Financial Co. has a 12 month low of $100.31 and a 12 month high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50 day moving average of $143.65 and a 200-day moving average of $130.86.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) 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). The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. Cincinnati Financial's quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. Research analysts expect that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
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 paid a $0.81 dividend. The ex-dividend date is Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.03%. Cincinnati Financial's payout ratio is 16.65%.
Analyst Ratings Changes
A number of research analysts have weighed in on CINF shares. Bank of America raised their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Piper Sandler raised their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Finally, 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $138.57.
Get Our Latest Stock Report on Cincinnati Financial
About Cincinnati Financial
(
Free Report)
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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