Atria Investments Inc Trims Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Atria Investments Inc decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 18.4% during the third quarter, Holdings Channel reports. The institutional investor owned 18,484 shares of the insurance provider’s stock after selling 4,180 shares during the quarter. Atria Investments Inc’s holdings in Cincinnati Financial were worth $2,516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CINF. AQR Capital Management LLC raised its position in shares of Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after acquiring an additional 277,550 shares during the period. Dimensional Fund Advisors LP raised its holdings in Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares during the period. Natixis purchased a new position in Cincinnati Financial during the first quarter worth approximately $22,053,000. Bahl & Gaynor Inc. grew its holdings in Cincinnati Financial by 10.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after purchasing an additional 107,081 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Cincinnati Financial by 126.4% during the second quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock valued at $21,259,000 after purchasing an additional 100,487 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CINF has been the subject of several research reports. Bank of America boosted 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. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. 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. Finally, Piper Sandler raised their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Stock Down 0.8 %

NASDAQ CINF opened at $149.55 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 52 week low of $99.61 and a 52 week high of $152.30. The business’s fifty day simple moving average is $138.95 and its 200-day simple moving average is $127.73. The firm has a market cap of $23.38 billion, a PE ratio of 7.67, a P/E/G ratio of 2.87 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted 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 firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 earnings per share. As a group, equities analysts anticipate 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 paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Cincinnati Financial 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.