Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,841 shares of the insurance provider's stock after selling 7,286 shares during the quarter. National Bank of Canada FI owned 0.09% of Cincinnati Financial worth $18,491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. boosted its position in Cincinnati Financial by 2.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider's stock worth $460,000 after purchasing an additional 68 shares during the period. Wealth Dimensions Group Ltd. boosted its position in shares of Cincinnati Financial by 0.9% in the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider's stock worth $1,098,000 after buying an additional 75 shares during the period. UMB Bank n.a. grew its stake in shares of Cincinnati Financial by 7.4% in the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider's stock valued at $155,000 after buying an additional 79 shares in the last quarter. Massmutual Trust Co. FSB ADV raised 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 valued at $33,000 after buying an additional 80 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Cincinnati Financial by 1.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider's stock worth $761,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Bank of America increased their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Finally, Piper Sandler boosted their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.57.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average cost of $157.19 per share, with a total value of $157,190.00. Following the completion of the acquisition, the director now owns 54,500 shares of the company's stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Stock Down 2.5 %

Shares of CINF stock traded down $3.82 during trading hours on Tuesday, hitting $149.83. 975,243 shares of the company were exchanged, compared to its average volume of 685,275. 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 business's 50-day simple moving average is $146.10 and its two-hundred day simple moving average is $132.64. Cincinnati Financial Co. has a one year low of $100.31 and a one year high of $161.74. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 7.70, a P/E/G ratio of 2.98 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). The business 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 company's quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 earnings per share. Sell-side analysts predict that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial's dividend payout ratio (DPR) 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.