ING Groep NV Sells 11,489 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

ING Groep NV reduced its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 59.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,875 shares of the insurance provider's stock after selling 11,489 shares during the quarter. ING Groep NV's holdings in Cincinnati Financial were worth $1,072,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CINF. Moisand Fitzgerald Tamayo LLC purchased a new stake in Cincinnati Financial in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new stake in Cincinnati Financial in the third quarter valued at $27,000. Future Financial Wealth Managment LLC acquired a new position in Cincinnati Financial during the third quarter worth about $29,000. Massmutual Trust Co. FSB ADV increased its stake 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. Finally, USA Financial Formulas purchased a new position in Cincinnati Financial during the third quarter worth about $33,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CINF has been the topic of several analyst reports. Piper Sandler increased their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Roth Mkm lifted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a "buy" rating in a report on Friday, July 26th. 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, Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $138.57.

Cincinnati Financial Stock Performance

CINF stock traded up $0.35 during trading on Monday, reaching $152.13. 413,913 shares of the company's stock were exchanged, compared to its average volume of 699,423. 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 1-year low of $99.61 and a 1-year high of $152.85. The company's fifty day moving average price is $139.54 and its 200-day moving average price is $128.31. The firm has a market cap of $23.78 billion, a PE ratio of 7.78, a P/E/G ratio of 2.89 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The company's revenue for the quarter was up 21.5% on a year-over-year basis. On average, research analysts expect that Cincinnati Financial Co. will post 6.32 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 2.13%. Cincinnati Financial's payout ratio is 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.