Haverford Trust Co trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 67.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,081 shares of the insurance provider's stock after selling 14,671 shares during the period. Haverford Trust Co's holdings in Cincinnati Financial were worth $964,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in CINF. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Cincinnati Financial in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in Cincinnati Financial in the third quarter worth $27,000. Rothschild Investment LLC bought a new stake in Cincinnati Financial during the 2nd quarter valued at about $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Cincinnati Financial in the 3rd quarter valued at $29,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock valued at $33,000 after buying an additional 80 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Roth Mkm lifted their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Bank of America lifted 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. Finally, Piper Sandler lifted their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.57.
Check Out Our Latest Report on Cincinnati Financial
Cincinnati Financial Trading Down 0.8 %
Shares of NASDAQ:CINF traded down $1.23 during mid-day trading on Thursday, reaching $149.55. 459,450 shares of the company's stock were exchanged, compared to its average volume of 700,440. The business's fifty day moving average price is $138.95 and its 200-day moving average price is $127.73. Cincinnati Financial Co. has a twelve month low of $99.61 and a twelve month high of $152.30. The firm has a market capitalization of $23.38 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 2.87 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). The company 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%. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 earnings per share. On average, research analysts predict that Cincinnati Financial Co. will post 6.35 EPS for the current fiscal year.
Cincinnati Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were paid a $0.81 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.17%. Cincinnati Financial's payout ratio is presently 16.65%.
Cincinnati Financial Profile
(
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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