Empowered Funds LLC Sells 15,530 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Empowered Funds LLC cut its holdings in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 30.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,767 shares of the insurance provider's stock after selling 15,530 shares during the quarter. Empowered Funds LLC's holdings in Cincinnati Financial were worth $4,869,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Covestor Ltd boosted its holdings in Cincinnati Financial by 728.6% in the first quarter. Covestor Ltd now owns 1,160 shares of the insurance provider's stock valued at $144,000 after acquiring an additional 1,020 shares during the last quarter. UniSuper Management Pty Ltd grew its position in shares of Cincinnati Financial by 456.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,717 shares of the insurance provider's stock worth $1,207,000 after buying an additional 7,971 shares during the period. Bessemer Group Inc. grew its position in shares of Cincinnati Financial by 57.9% during the 1st quarter. Bessemer Group Inc. now owns 1,342 shares of the insurance provider's stock worth $167,000 after buying an additional 492 shares during the period. InterOcean Capital Group LLC raised its stake in shares of Cincinnati Financial by 15.4% during the first quarter. InterOcean Capital Group LLC now owns 5,201 shares of the insurance provider's stock worth $646,000 after buying an additional 696 shares during the last quarter. Finally, Natixis acquired a new position in Cincinnati Financial in the first quarter valued at approximately $22,053,000. 65.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CINF shares. Piper Sandler upped their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Bank of America boosted their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Roth Mkm increased their price target 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $138.57.

Cincinnati Financial Stock Up 0.2 %

NASDAQ CINF traded up $0.35 during trading hours on Monday, reaching $152.13. 420,188 shares of the company's stock were exchanged, compared to its average volume of 699,452. 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 company has a market capitalization of $23.78 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65. The company's 50-day moving average is $139.54 and its two-hundred day moving average is $128.31. Cincinnati Financial Co. has a one year low of $99.61 and a one year high of $152.85.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) 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 return on equity of 8.25% and a net margin of 25.26%. The firm's revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 EPS. On average, analysts forecast that Cincinnati Financial Co. will post 6.32 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. Stockholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.13%. Cincinnati Financial's dividend payout ratio is currently 16.65%.

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.