Janney Montgomery Scott LLC Reduces Position in Cincinnati Financial Co. (NASDAQ:CINF)

Janney Montgomery Scott LLC trimmed its position in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,417 shares of the insurance provider's stock after selling 6,768 shares during the period. Janney Montgomery Scott LLC owned about 0.08% of Cincinnati Financial worth $17,208,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC purchased a new stake in Cincinnati Financial during the third quarter valued at about $25,000. Rothschild Investment LLC purchased a new stake in Cincinnati Financial during the 2nd quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new position in Cincinnati Financial during the 3rd quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV increased its stake in Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock worth $33,000 after purchasing an additional 80 shares during the period. Finally, USA Financial Formulas bought a new stake in Cincinnati Financial in the third quarter valued at approximately $33,000. Institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CINF. Roth Mkm boosted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Bank of America increased their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Piper Sandler boosted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and a consensus target price of $138.57.

Cincinnati Financial Stock Up 6.6 %

Shares of NASDAQ:CINF traded up $9.31 during trading on Wednesday, hitting $149.68. The stock had a trading volume of 868,245 shares, compared to its average volume of 707,505. 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 $98.65 and a 12 month high of $150.96. The company has a market capitalization of $23.40 billion, a PE ratio of 7.69, a PEG ratio of 2.65 and a beta of 0.65. The firm's fifty day moving average is $137.68 and its 200 day moving average is $126.62.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.66 EPS. Analysts anticipate that Cincinnati Financial Co. will post 6.4 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Tuesday, September 17th. Cincinnati Financial's dividend payout ratio (DPR) is presently 16.65%.

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.