MAI Capital Management Reduces Stake in Cincinnati Financial Co. (NASDAQ:CINF)

MAI Capital Management reduced its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 22.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,519 shares of the insurance provider’s stock after selling 9,079 shares during the quarter. MAI Capital Management’s holdings in Cincinnati Financial were worth $4,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. UniSuper Management Pty Ltd increased its position in shares of Cincinnati Financial by 456.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,717 shares of the insurance provider’s stock valued at $1,207,000 after purchasing an additional 7,971 shares during the last quarter. Bessemer Group Inc. increased its position in Cincinnati Financial by 57.9% during the first quarter. Bessemer Group Inc. now owns 1,342 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 492 shares during the last quarter. InterOcean Capital Group LLC raised its stake in shares of Cincinnati Financial by 15.4% in the first quarter. InterOcean Capital Group LLC now owns 5,201 shares of the insurance provider’s stock valued at $646,000 after acquiring an additional 696 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Cincinnati Financial by 87.8% in the 1st quarter. EntryPoint Capital LLC now owns 708 shares of the insurance provider’s stock worth $88,000 after acquiring an additional 331 shares during the last quarter. Finally, Delap Wealth Advisory LLC purchased a new position in shares of Cincinnati Financial during the 1st quarter worth about $316,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CINF. Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Bank of America boosted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Roth Mkm increased their target price on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Trading Down 1.0 %

Shares of NASDAQ CINF opened at $150.58 on Wednesday. Cincinnati Financial Co. has a twelve month low of $99.61 and a twelve month high of $152.85. The firm has a market cap of $23.54 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65. The business has a fifty day simple moving average of $140.10 and a two-hundred day simple moving average of $128.80. 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 (NASDAQ:CINF) last released its quarterly earnings data 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). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. Analysts expect that Cincinnati Financial Co. will post 6.32 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.81 per share. The ex-dividend date is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.15%. Cincinnati Financial’s dividend payout ratio 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.