Independent Advisor Alliance Sells 413 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Independent Advisor Alliance trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF) by 4.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 8,877 shares of the insurance provider’s stock after selling 413 shares during the period. Independent Advisor Alliance’s holdings in Cincinnati Financial were worth $1,208,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vest Financial LLC increased its position in Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after purchasing an additional 46,530 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Cincinnati Financial by 91.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock valued at $14,016,000 after purchasing an additional 56,686 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Cincinnati Financial by 165.4% during the 1st quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider’s stock worth $968,000 after buying an additional 4,856 shares during the period. Amalgamated Bank raised its stake in shares of Cincinnati Financial by 30.5% during the second quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock worth $4,976,000 after buying an additional 9,854 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cincinnati Financial by 10.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock valued at $15,923,000 after buying an additional 11,282 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $159.61 on Wednesday. The stock’s fifty day simple moving average is $142.18 and its 200 day simple moving average is $130.16. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $24.95 billion, a PE ratio of 8.20, a PEG ratio of 2.99 and a beta of 0.65. Cincinnati Financial Co. has a 12 month low of $99.92 and a 12 month high of $159.81.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.24 billion. During the same period in the prior year, the business earned $1.66 EPS. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, research analysts predict that Cincinnati Financial Co. will post 6.31 EPS 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 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. 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 report on Tuesday, October 29th. Bank of America lifted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.