MAI Capital Management Reduces Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

MAI Capital Management lessened its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 22.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,519 shares of the insurance provider's stock after selling 9,079 shares during the period. MAI Capital Management's holdings in Cincinnati Financial were worth $4,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CINF. AQR Capital Management LLC increased its position in Cincinnati Financial by 39.4% during the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider's stock worth $115,758,000 after buying an additional 277,550 shares during the period. Dimensional Fund Advisors LP increased its position in Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider's stock worth $159,360,000 after buying an additional 187,934 shares during the period. Bahl & Gaynor Inc. increased its position in Cincinnati Financial by 10.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider's stock worth $131,739,000 after buying an additional 107,081 shares during the period. TD Asset Management Inc increased its position in Cincinnati Financial by 126.4% during the second quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider's stock worth $21,259,000 after buying an additional 100,487 shares during the period. Finally, Bank of Montreal Can increased its position in Cincinnati Financial by 75.5% during the second quarter. Bank of Montreal Can now owns 226,622 shares of the insurance provider's stock worth $26,895,000 after buying an additional 97,484 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Roth Mkm lifted their price target on Cincinnati Financial from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted 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 upped their price target on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Piper Sandler increased their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.57.

Cincinnati Financial Price Performance

Cincinnati Financial stock traded up $1.04 during midday trading on Wednesday, reaching $151.62. The company's stock had a trading volume of 403,403 shares, compared to its average volume of 696,450. Cincinnati Financial Co. has a fifty-two week low of $99.92 and a fifty-two week high of $152.85. 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 stock's 50 day simple moving average is $140.10 and its 200 day simple moving average is $128.80. The firm has a market capitalization of $23.70 billion, a PE ratio of 7.74, a P/E/G ratio of 2.89 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its 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). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business posted $1.66 EPS. Cincinnati Financial's revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts forecast that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial's dividend payout ratio is currently 16.65%.

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.