Cincinnati Financial Corporation $CINF Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 959,898 shares of the insurance provider’s stock after selling 49,523 shares during the quarter. ProShare Advisors LLC’s holdings in Cincinnati Financial were worth $152,979,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Cincinnati Financial by 225.5% in the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock worth $4,993,976,000 after buying an additional 18,686,673 shares during the period. Envestnet Asset Management Inc. boosted its position in Cincinnati Financial by 1,474.8% in the second quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock valued at $415,267,000 after buying an additional 2,100,563 shares during the last quarter. Bank of America Corp DE acquired a new stake in Cincinnati Financial during the 2nd quarter worth about $347,891,000. First Trust Advisors LP increased its holdings in shares of Cincinnati Financial by 59.4% during the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after purchasing an additional 784,584 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Cincinnati Financial in the third quarter valued at approximately $248,705,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CINF. Piper Sandler boosted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Roth Capital boosted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Finally, Bank of America cut Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Insiders Place Their Bets

In other news, Director Dirk Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $171.64 per share, with a total value of $171,640.00. Following the transaction, the director owned 62,059 shares in the company, valued at $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.94% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $181.19 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.27 and a quick ratio of 0.31. Cincinnati Financial Corporation has a fifty-two week low of $151.99 and a fifty-two week high of $194.81. The business has a fifty day moving average price of $169.33 and a two-hundred day moving average price of $168.14. The stock has a market capitalization of $27.81 billion, a PE ratio of 10.63, a P/E/G ratio of 2.91 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.81. Cincinnati Financial had a return on equity of 9.48% and a net margin of 20.07%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the firm posted $2.85 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities analysts predict that Cincinnati Financial Corporation will post 9.09 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were paid a $0.94 dividend. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial’s dividend payout ratio is presently 22.05%.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.