Cincinnati Financial Corporation $CINF Stock: ProShare Advisors LLC Cuts Holdings

ProShare Advisors LLC lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 959,898 shares of the insurance provider’s stock after selling 49,523 shares during the period. ProShare Advisors LLC owned about 0.63% of Cincinnati Financial worth $152,979,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Cincinnati Financial by 225.5% during the second quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock worth $4,993,976,000 after buying an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Cincinnati Financial by 1,474.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock worth $415,267,000 after buying an additional 2,100,563 shares during the last quarter. First Trust Advisors LP raised its stake in Cincinnati Financial by 59.4% during the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after acquiring an additional 784,584 shares in the last quarter. Bank of America Corp DE purchased a new stake in Cincinnati Financial in the 2nd quarter valued at $347,891,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Cincinnati Financial in the 3rd quarter valued at approximately $248,705,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.94% of the company’s stock.

Cincinnati Financial Price Performance

Shares of CINF opened at $181.19 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.27 and a quick ratio of 0.31. The firm has a market capitalization of $27.81 billion, a PE ratio of 10.63, a PEG ratio of 2.91 and a beta of 0.52. The company’s 50-day moving average is $169.33 and its 200-day moving average is $168.14. Cincinnati Financial Corporation has a fifty-two week low of $151.99 and a fifty-two week high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, October 26th. The insurance provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.81. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.64 billion. Cincinnati Financial had a return on equity of 9.48% and a net margin of 20.07%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $2.85 EPS. Equities analysts forecast that Cincinnati Financial Corporation will post 9.09 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is currently 22.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CINF shares. Piper Sandler lifted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Roth Capital lifted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.