Cincinnati Financial Corporation $CINF Stock Sold by Keybank National Association OH

Keybank National Association OH cut its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,360 shares of the insurance provider’s stock after selling 5,997 shares during the quarter. Keybank National Association OH’s holdings in Cincinnati Financial were worth $29,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. United Advisor Group LLC grew its holdings in Cincinnati Financial by 0.9% during the 3rd quarter. United Advisor Group LLC now owns 6,678 shares of the insurance provider’s stock valued at $1,064,000 after purchasing an additional 61 shares in the last quarter. BIP Wealth LLC increased its stake in Cincinnati Financial by 1.6% during the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after buying an additional 63 shares during the period. Concurrent Investment Advisors LLC increased its stake in Cincinnati Financial by 2.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock worth $577,000 after buying an additional 64 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Cincinnati Financial by 0.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock worth $2,616,000 after buying an additional 68 shares in the last quarter. Finally, McAdam LLC lifted its holdings in Cincinnati Financial by 2.6% in the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock worth $512,000 after buying an additional 70 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their target price on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 12th. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Roth Capital boosted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Bank of America cut Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $189.78 on Thursday. Cincinnati Financial Corporation has a 52 week low of $153.40 and a 52 week high of $195.72. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.05. The stock has a market cap of $29.13 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 3.01 and a beta of 0.48. The stock has a 50 day moving average of $171.93 and a 200-day moving average of $169.19.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.81. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.64 billion. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 earnings per share. On average, analysts expect that Cincinnati Financial Corporation will post 9.21 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is 22.05%.

Insiders Place Their Bets

In related news, Director Dirk Debbink acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.94% of the stock is currently owned by corporate insiders.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.