Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. lowered its position in Cincinnati Financial Co. (NASDAQ:CINF) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,669 shares of the insurance provider’s stock after selling 133 shares during the period. Cincinnati Financial makes up 1.5% of Heritage Wealth Management Inc.’s holdings, making the stock its 10th biggest position. Heritage Wealth Management Inc.’s holdings in Cincinnati Financial were worth $4,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norden Group LLC acquired a new position in shares of Cincinnati Financial during the first quarter worth about $354,000. Nordea Investment Management AB raised its holdings in Cincinnati Financial by 5.3% in the first quarter. Nordea Investment Management AB now owns 10,072 shares of the insurance provider’s stock valued at $1,243,000 after acquiring an additional 509 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Cincinnati Financial by 109.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,677 shares of the insurance provider’s stock worth $705,000 after acquiring an additional 2,967 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Cincinnati Financial in the first quarter valued at about $498,000. Finally, Empirical Finance LLC increased its holdings in shares of Cincinnati Financial by 3.5% in the 1st quarter. Empirical Finance LLC now owns 5,598 shares of the insurance provider’s stock valued at $695,000 after acquiring an additional 188 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CINF has been the topic of a number of recent research reports. Roth Mkm raised their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Bank of America increased 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. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler increased their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Up 0.6 %

Shares of NASDAQ CINF traded up $0.87 during mid-day trading on Friday, reaching $147.99. 17,487 shares of the company traded hands, compared to its average volume of 703,321. The company’s fifty day moving average is $137.68 and its two-hundred day moving average is $126.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Co. has a fifty-two week low of $98.65 and a fifty-two week high of $150.96. The stock has a market cap of $23.13 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 2.62 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share 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 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 posted $1.66 earnings per share. Cincinnati Financial’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, analysts expect that Cincinnati Financial Co. will post 6.35 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

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.