Glenmede Trust Co. NA Sells 1,951 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Glenmede Trust Co. NA decreased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 5.8% in the third quarter, Holdings Channel reports. The firm owned 31,873 shares of the insurance provider’s stock after selling 1,951 shares during the quarter. Glenmede Trust Co. NA’s holdings in Cincinnati Financial were worth $4,339,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial by 26.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Cincinnati Financial by 1.1% during the 2nd 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 buying an additional 16,451 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 valued at $159,360,000 after buying an additional 187,934 shares during the period. Bahl & Gaynor Inc. boosted its stake in shares of Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after buying an additional 107,081 shares during the last quarter. Finally, AQR Capital Management LLC grew 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 worth $115,758,000 after acquiring an additional 277,550 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $159.83 on Friday. The stock has a market cap of $24.98 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 3.06 and a beta of 0.65. Cincinnati Financial Co. has a 12 month low of $100.31 and a 12 month high of $161.74. The company’s 50 day moving average is $143.65 and its two-hundred day moving average is $130.95. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results 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 firm 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%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 EPS. As a group, research analysts anticipate that Cincinnati Financial Co. will post 6.31 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Analyst Ratings Changes

Several brokerages have issued reports on CINF. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler boosted 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. Finally, Bank of America increased 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock 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.