UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 54,754 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 910,009 shares of the insurance provider's stock after selling 54,754 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.58% of Cincinnati Financial worth $123,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its stake in Cincinnati Financial by 20.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,585 shares of the insurance provider's stock worth $321,000 after purchasing an additional 444 shares during the period. Tidal Investments LLC increased its holdings in shares of Cincinnati Financial by 115.5% during the first quarter. Tidal Investments LLC now owns 7,949 shares of the insurance provider's stock worth $987,000 after purchasing an additional 4,261 shares during the period. Swedbank AB acquired a new stake in Cincinnati Financial in the first quarter valued at approximately $953,000. Cetera Investment Advisers raised its holdings in Cincinnati Financial by 178.5% during the 1st quarter. Cetera Investment Advisers now owns 20,322 shares of the insurance provider's stock worth $2,523,000 after purchasing an additional 13,026 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Cincinnati Financial by 2.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 25,518 shares of the insurance provider's stock worth $3,134,000 after acquiring an additional 594 shares in the last quarter. Institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CINF. 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 research note on Tuesday, October 29th. Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, Bank of America lifted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average price target of $138.57.

Cincinnati Financial Stock Performance

NASDAQ:CINF traded down $2.25 during trading hours on Monday, reaching $157.58. The stock had a trading volume of 548,739 shares, compared to its average volume of 690,873. The stock has a 50 day simple moving average of $144.07 and a 200 day simple moving average of $131.32. The stock has a market cap of $24.63 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 3.05 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Co. has a 12-month low of $100.31 and a 12-month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate 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%. Cincinnati Financial's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the company earned $1.66 EPS. On average, research analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial's dividend payout ratio is presently 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.