Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,770 shares of the insurance provider’s stock after selling 1,698 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Cincinnati Financial worth $11,403,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CINF. Cetera Investment Advisers grew its position in shares of Cincinnati Financial by 178.5% in the first quarter. Cetera Investment Advisers now owns 20,322 shares of the insurance provider’s stock valued at $2,523,000 after purchasing an additional 13,026 shares during the period. CWM LLC boosted its position in Cincinnati Financial by 77.7% during the second quarter. CWM LLC now owns 8,388 shares of the insurance provider’s stock worth $991,000 after acquiring an additional 3,669 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Cincinnati Financial during the second quarter worth about $5,731,000. City Holding Co. boosted its position in Cincinnati Financial by 32.5% during the second quarter. City Holding Co. now owns 7,477 shares of the insurance provider’s stock worth $883,000 after acquiring an additional 1,833 shares during the last quarter. Finally, Czech National Bank boosted its position in Cincinnati Financial by 8.0% during the second quarter. Czech National Bank now owns 29,834 shares of the insurance provider’s stock worth $3,523,000 after acquiring an additional 2,210 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of CINF opened at $156.30 on Thursday. Cincinnati Financial Co. has a fifty-two week low of $100.31 and a fifty-two week high of $161.74. The firm’s 50 day moving average price is $144.90 and its 200 day moving average price is $131.75. The company has a market cap of $24.43 billion, a P/E ratio of 8.03, a PEG ratio of 3.01 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last announced 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). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company earned $1.66 earnings per share. Cincinnati Financial’s quarterly revenue was up 21.5% on a year-over-year basis. On average, research analysts forecast that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Analyst Ratings Changes

CINF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of 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 lifted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Bank of America lifted 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. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.