Citigroup Inc. Reduces Position in Cincinnati Financial Co. (NASDAQ:CINF)

Citigroup Inc. cut its position in Cincinnati Financial Co. (NASDAQ:CINF) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 145,343 shares of the insurance provider’s stock after selling 1,395 shares during the period. Citigroup Inc. owned approximately 0.09% of Cincinnati Financial worth $19,784,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Cincinnati Financial by 26.7% in 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 buying an additional 1,218,919 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in Cincinnati Financial by 1.1% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after purchasing an additional 16,451 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 187,934 shares during the period. Bahl & Gaynor Inc. raised its stake in shares of Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after buying an additional 107,081 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake 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 worth $115,758,000 after buying an additional 277,550 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Trading Up 0.1 %

Shares of CINF stock opened at $159.61 on Wednesday. Cincinnati Financial Co. has a fifty-two week low of $99.92 and a fifty-two week high of $159.81. 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 stock’s fifty day moving average is $142.18 and its two-hundred day moving average is $130.16. The firm has a market capitalization of $24.95 billion, a P/E ratio of 8.20, a PEG ratio of 2.99 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Research analysts expect that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed 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 2.03%. Cincinnati Financial’s payout ratio is 16.65%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CINF. Bank of America lifted their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler lifted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. 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 issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

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.