Kingsview Wealth Management LLC Decreases Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Kingsview Wealth Management LLC trimmed its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 85.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,674 shares of the insurance provider's stock after selling 15,977 shares during the period. Kingsview Wealth Management LLC's holdings in Cincinnati Financial were worth $364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Moisand Fitzgerald Tamayo LLC bought a new stake in Cincinnati Financial in the third quarter worth $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of Cincinnati Financial in the 3rd quarter valued at about $27,000. Future Financial Wealth Managment LLC purchased a new stake in Cincinnati Financial during the 3rd quarter valued at about $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. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Down 0.2 %

NASDAQ:CINF traded down $0.33 on Friday, reaching $159.83. 361,209 shares of the stock traded hands, compared to its average volume of 691,488. The company's fifty day simple moving average is $143.65 and its 200 day simple moving average is $130.86. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 3.06 and a beta of 0.65. Cincinnati Financial Co. has a 12 month low of $100.31 and a 12 month high of $161.74. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data 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 return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business posted $1.66 earnings per share. Cincinnati Financial's quarterly revenue was up 21.5% compared to the same quarter last year. Equities analysts predict that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company 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 $0.81 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.03%. Cincinnati Financial's payout ratio is 16.65%.

Wall Street Analysts Forecast Growth

CINF has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Bank of America upped their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, Piper Sandler lifted 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.57.

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.