Ascent Group LLC Has $2.74 Million Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Ascent Group LLC lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 8.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,090 shares of the insurance provider’s stock after selling 1,840 shares during the period. Ascent Group LLC’s holdings in Cincinnati Financial were worth $2,735,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CINF. B. Riley Wealth Advisors Inc. boosted its position in Cincinnati Financial by 20.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,585 shares of the insurance provider’s stock valued at $321,000 after buying an additional 444 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Cincinnati Financial by 115.5% during the first quarter. Tidal Investments LLC now owns 7,949 shares of the insurance provider’s stock worth $987,000 after purchasing an additional 4,261 shares during the period. Swedbank AB acquired a new position in shares of Cincinnati Financial during the first quarter worth $953,000. Cetera Investment Advisers lifted its holdings in shares of Cincinnati Financial by 178.5% during the first quarter. Cetera Investment Advisers now owns 20,322 shares of the insurance provider’s stock worth $2,523,000 after purchasing an additional 13,026 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Cincinnati Financial by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 25,518 shares of the insurance provider’s stock worth $3,134,000 after purchasing an additional 594 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

CINF stock opened at $157.58 on Tuesday. The firm has a market cap of $24.63 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 3.05 and a beta of 0.65. 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 Co. has a 12-month low of $100.31 and a 12-month high of $161.74. The company’s fifty day simple moving average is $144.07 and its 200 day simple moving average is $131.32.

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). 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 during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. Cincinnati Financial’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts expect that Cincinnati Financial Co. will post 6.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 16.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CINF shares. Piper Sandler lifted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Bank of America lifted their price target 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. Finally, Keefe, Bruyette & Woods lifted 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average target price of $138.57.

About Cincinnati Financial

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.