Oppenheimer & Co. Inc. Reduces Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Oppenheimer & Co. Inc. lowered its position in Cincinnati Financial Co. (NASDAQ:CINF) by 3.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,859 shares of the insurance provider’s stock after selling 575 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cincinnati Financial were worth $2,159,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CINF. Avantax Advisory Services Inc. boosted its holdings in Cincinnati Financial by 24.0% in the first quarter. Avantax Advisory Services Inc. now owns 5,604 shares of the insurance provider’s stock valued at $696,000 after purchasing an additional 1,085 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Cincinnati Financial by 330.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 11,440 shares of the insurance provider’s stock valued at $1,421,000 after buying an additional 8,784 shares during the last quarter. Covestor Ltd grew its position in shares of Cincinnati Financial by 728.6% during the first quarter. Covestor Ltd now owns 1,160 shares of the insurance provider’s stock worth $144,000 after buying an additional 1,020 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Cincinnati Financial by 0.3% in the first quarter. Bahl & Gaynor Inc. now owns 1,008,406 shares of the insurance provider’s stock worth $125,214,000 after buying an additional 3,191 shares during the last quarter. Finally, Spreng Capital Management Inc. acquired a new stake in Cincinnati Financial in the first quarter valued at $217,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Trading Up 1.5 %

NASDAQ:CINF opened at $151.78 on Friday. The firm has a market capitalization of $23.73 billion, a P/E ratio of 7.80, a P/E/G ratio of 2.86 and a beta of 0.65. The business has a 50 day simple moving average of $139.54 and a 200 day simple moving average of $128.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 12-month low of $99.61 and a 12-month high of $152.30.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly 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). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm posted $1.66 EPS. The business’s revenue was up 21.5% compared to the same quarter last year. Equities research analysts predict that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Piper Sandler lifted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Roth Mkm upped their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

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.