Empowered Funds LLC Cuts Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Empowered Funds LLC trimmed its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 30.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,767 shares of the insurance provider’s stock after selling 15,530 shares during the period. Empowered Funds LLC’s holdings in Cincinnati Financial were worth $4,869,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Moisand Fitzgerald Tamayo LLC purchased a new position in Cincinnati Financial in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of Cincinnati Financial in the third quarter valued at approximately $27,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Cincinnati Financial in the third quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV increased its position in shares of Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in Cincinnati Financial in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.5 %

Shares of Cincinnati Financial stock opened at $151.78 on Monday. The stock has a 50 day moving average of $139.54 and a 200 day moving average of $128.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 2.89 and a beta of 0.65. Cincinnati Financial Co. has a fifty-two week low of $99.61 and a fifty-two week high of $152.30.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (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 previous year, the business posted $1.66 earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts predict that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on CINF. Roth Mkm upped their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Bank of America raised their target price on shares of 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 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average price target 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.