Geode Capital Management LLC Has $507.96 Million Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Geode Capital Management LLC reduced its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,744,317 shares of the insurance provider's stock after selling 50,744 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of Cincinnati Financial worth $507,957,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Cincinnati Financial in the third quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Cincinnati Financial during the 3rd quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new position in Cincinnati Financial in the 3rd quarter valued at about $27,000. Future Financial Wealth Managment LLC bought a new position in Cincinnati Financial in the 3rd quarter valued at about $29,000. Finally, Massmutual Trust Co. FSB ADV lifted its position 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 acquiring an additional 80 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

CINF stock traded up $0.06 during midday trading on Friday, reaching $152.22. The company had a trading volume of 455,529 shares, compared to its average volume of 683,901. The company has a market capitalization of $23.80 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 1-year low of $100.31 and a 1-year high of $161.74. The stock has a 50 day moving average price of $146.98 and a 200-day moving average price of $133.13.

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 (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business posted $1.66 EPS. The business's revenue was up 21.5% on a year-over-year basis. Equities research analysts expect that Cincinnati Financial Co. will post 6.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm 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. This represents a $3.24 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial's dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the purchase, the director now owns 54,500 shares of the company's stock, valued at approximately $8,566,855. The trade was a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.83% of the company's stock.

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.