ING Groep NV Decreases Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

ING Groep NV lowered its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 59.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,875 shares of the insurance provider’s stock after selling 11,489 shares during the period. ING Groep NV’s holdings in Cincinnati Financial were worth $1,072,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of Cincinnati Financial by 7.4% during the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock worth $155,000 after purchasing an additional 79 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock valued at $761,000 after buying an additional 80 shares during the period. Hartford Investment Management Co. raised its holdings in shares of Cincinnati Financial by 0.8% during the third quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock valued at $1,384,000 after acquiring an additional 80 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in Cincinnati Financial by 4.3% in the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock worth $271,000 after acquiring an additional 95 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CINF shares. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Bank of America boosted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Roth Mkm raised their price objective 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 upped their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Stock Performance

Shares of CINF opened at $151.78 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock has a market cap of $23.73 billion, a P/E ratio of 7.80, a P/E/G ratio of 2.89 and a beta of 0.65. The business’s 50 day moving average price is $139.54 and its 200-day moving average price is $128.31. Cincinnati Financial Co. has a 52 week low of $99.61 and a 52 week high of $152.30.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the firm posted $1.66 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. Equities research analysts anticipate that Cincinnati Financial Co. will post 6.32 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.13%. Cincinnati Financial’s dividend payout ratio (DPR) is 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.