Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by State Street Corp

State Street Corp trimmed its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,887,801 shares of the insurance provider's stock after selling 190,781 shares during the quarter. State Street Corp owned 5.69% of Cincinnati Financial worth $1,216,876,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider's stock worth $787,076,000 after purchasing an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Cincinnati Financial by 583.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider's stock valued at $52,531,000 after buying an additional 329,435 shares during the period. AQR Capital Management LLC raised its holdings in shares of Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider's stock valued at $115,758,000 after acquiring an additional 277,550 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider's stock worth $159,360,000 after acquiring an additional 187,934 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider's stock worth $131,739,000 after acquiring an additional 107,081 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CINF. Bank of America upped their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, Piper Sandler lifted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Two equities research 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 has an average rating of "Moderate Buy" and a consensus price target of $138.57.

Cincinnati Financial Stock Down 0.7 %

Shares of CINF stock traded down $1.13 during trading hours on Friday, reaching $156.03. 332,210 shares of the company's stock were exchanged, compared to its average volume of 449,080. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 2.98 and a beta of 0.69. Cincinnati Financial Co. has a fifty-two week low of $100.31 and a fifty-two week high of $161.74. The stock's 50 day moving average is $145.75 and its 200-day moving average is $132.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly 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 analysts' expectations of $2.24 billion. During the same quarter last year, the business posted $1.66 earnings per share. The company's quarterly revenue was up 21.5% compared to the same quarter last year. Analysts predict that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business 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 2.08%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial's dividend payout ratio is presently 16.65%.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $157.19 per share, with a total value of $157,190.00. Following the acquisition, the director now directly owns 54,500 shares of the company's stock, valued at approximately $8,566,855. The trade was a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is currently owned by company insiders.

Cincinnati Financial 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.