Worldquant Millennium Advisors LLC Decreases Position in Cincinnati Financial Co. (NASDAQ:CINF)

Worldquant Millennium Advisors LLC lessened its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 83.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,935 shares of the insurance provider's stock after selling 88,738 shares during the period. Worldquant Millennium Advisors LLC's holdings in Cincinnati Financial were worth $2,441,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Moisand Fitzgerald Tamayo LLC acquired a new position in Cincinnati Financial in the third quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of Cincinnati Financial during the third quarter worth about $27,000. Future Financial Wealth Managment LLC bought a new stake in Cincinnati Financial in the 3rd quarter worth about $29,000. Massmutual Trust Co. FSB ADV grew its position in Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Cincinnati Financial in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Trading Down 1.5 %

Shares of CINF stock traded down $2.38 on Monday, hitting $153.65. 362,192 shares of the company's stock traded hands, compared to its average volume of 684,894. 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 one year low of $100.31 and a one year high of $161.74. The company's fifty day simple moving average is $146.10 and its 200 day simple moving average is $132.64. The stock has a market capitalization of $24.02 billion, a price-to-earnings ratio of 7.90, a P/E/G ratio of 2.98 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced 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). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business earned $1.66 EPS. Cincinnati Financial's revenue was up 21.5% on a year-over-year basis. Equities analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.11%. Cincinnati Financial's dividend payout ratio (DPR) is currently 16.65%.

Analyst Ratings Changes

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

Insider Activity at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was acquired 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 represents a 1.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

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.