Plato Investment Management Ltd Sells 4,126 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Plato Investment Management Ltd lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 31.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,022 shares of the insurance provider’s stock after selling 4,126 shares during the quarter. Plato Investment Management Ltd’s holdings in Cincinnati Financial were worth $1,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CINF. Avantax Advisory Services Inc. lifted its holdings in shares of Cincinnati Financial by 24.0% in the first quarter. Avantax Advisory Services Inc. now owns 5,604 shares of the insurance provider’s stock worth $696,000 after acquiring an additional 1,085 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Cincinnati Financial by 330.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 11,440 shares of the insurance provider’s stock worth $1,421,000 after acquiring an additional 8,784 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Cincinnati Financial by 4.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock worth $23,367,000 after acquiring an additional 7,709 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Cincinnati Financial by 10.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,748 shares of the insurance provider’s stock valued at $29,645,000 after buying an additional 22,252 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Cincinnati Financial by 804.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 17,984 shares of the insurance provider’s stock valued at $2,233,000 after buying an additional 15,995 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Piper Sandler raised 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. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Roth Mkm raised their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $149.55 on Friday. The company has a market capitalization of $23.38 billion, a PE ratio of 7.68, a P/E/G ratio of 2.87 and a beta of 0.65. The company has a 50 day simple moving average of $138.95 and a two-hundred day simple moving average of $127.73. 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 $99.61 and a fifty-two week high of $152.30.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results 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). The firm had revenue of $2.20 billion for 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 period in the prior year, the company posted $1.66 EPS. Research analysts anticipate that Cincinnati Financial Co. will post 6.35 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is 16.65%.

Cincinnati Financial Company 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.