M&T Bank Corp Has $951,000 Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

M&T Bank Corp boosted its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,988 shares of the insurance provider’s stock after purchasing an additional 282 shares during the quarter. M&T Bank Corp’s holdings in Cincinnati Financial were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Cincinnati Financial in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Cincinnati Financial in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC bought a new stake in Cincinnati Financial in the third quarter valued at approximately $27,000. Future Financial Wealth Managment LLC acquired a new stake in Cincinnati Financial in the third quarter worth $29,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Cincinnati Financial by 49.4% during the third 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. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 0.0 %

Cincinnati Financial stock opened at $152.22 on Monday. The company has a fifty day simple moving average of $147.25 and a 200 day simple moving average of $133.63. 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 Co. has a 1-year low of $100.31 and a 1-year high of $161.74. The company has a market cap of $23.79 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). The company had revenue of $2.20 billion for 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 business’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 EPS. Research analysts anticipate that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s payout ratio is presently 16.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CINF shares. Piper Sandler boosted their price target 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. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Bank of America boosted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Insider Activity at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $157.19 per share, with a total value of $157,190.00. Following the transaction, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. The trade was a 1.87 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.83% of the stock is owned by company insiders.

Cincinnati Financial 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.