Mutual of America Capital Management LLC Cuts Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Mutual of America Capital Management LLC lessened its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,240 shares of the insurance provider’s stock after selling 504 shares during the period. Mutual of America Capital Management LLC’s holdings in Cincinnati Financial were worth $2,619,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bessemer Group Inc. grew its stake in Cincinnati Financial by 57.9% during the 1st quarter. Bessemer Group Inc. now owns 1,342 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 492 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of Cincinnati Financial during the first quarter worth about $201,000. Advisors Asset Management Inc. increased its stake in shares of Cincinnati Financial by 165.4% during the first 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. Canada Pension Plan Investment Board raised its holdings in Cincinnati Financial by 13.2% in the first quarter. Canada Pension Plan Investment Board now owns 272,888 shares of the insurance provider’s stock valued at $33,885,000 after acquiring an additional 31,888 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Cincinnati Financial in the first quarter worth approximately $788,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CINF shares. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Piper Sandler boosted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Stock Up 1.0 %

CINF stock opened at $156.47 on Friday. Cincinnati Financial Co. has a 12 month low of $99.92 and a 12 month high of $156.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.65. The company has a fifty day moving average price of $141.26 and a 200 day moving average price of $129.50.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted $1.66 EPS. Sell-side analysts expect that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is presently 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.