abrdn plc raised its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 10.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,308 shares of the insurance provider's stock after purchasing an additional 6,556 shares during the quarter. abrdn plc's holdings in Cincinnati Financial were worth $9,274,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Moisand Fitzgerald Tamayo LLC acquired a new stake in Cincinnati Financial in the 3rd quarter valued at about $25,000. Future Financial Wealth Managment LLC bought a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Cincinnati Financial by 49.4% during the 3rd 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. USA Financial Formulas bought a new stake in Cincinnati Financial in the 3rd quarter valued at $33,000. Finally, Rothschild Investment LLC acquired a new stake in Cincinnati Financial during the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 65.24% of the company's stock.
Cincinnati Financial Price Performance
Shares of CINF stock traded down $0.18 during trading on Friday, hitting $140.65. The company had a trading volume of 393,565 shares, compared to its average volume of 594,762. The firm has a market capitalization of $21.99 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 2.65 and a beta of 0.65. Cincinnati Financial Co. has a one year low of $98.65 and a one year high of $145.33. 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 moving average price is $137.14 and its 200 day moving average price is $126.17.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its 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). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates 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 last year, the company posted $1.66 earnings per share. Equities analysts expect that Cincinnati Financial Co. will post 6.4 EPS for the current fiscal year.
Cincinnati Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial's payout ratio is presently 16.65%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Roth Mkm raised their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Bank of America boosted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average target price of $138.57.
View Our Latest Stock Report on CINF
Cincinnati Financial Profile
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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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