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

Atria Investments Inc decreased its position in Cincinnati Financial Co. (NASDAQ:CINF) by 18.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,484 shares of the insurance provider’s stock after selling 4,180 shares during the period. Atria Investments Inc’s holdings in Cincinnati Financial were worth $2,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Cincinnati Financial in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in Cincinnati Financial in the third quarter worth approximately $27,000. Future Financial Wealth Managment LLC purchased a new stake in Cincinnati Financial during the third quarter worth $29,000. Massmutual Trust Co. FSB ADV boosted its position in Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Cincinnati Financial in the 3rd quarter valued at $33,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Bank of America increased their target price 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Price Performance

Shares of CINF opened at $149.55 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The company’s fifty day moving average price is $138.95 and its 200-day moving average price is $127.73. Cincinnati Financial Co. has a 1-year low of $99.61 and a 1-year high of $152.30. The firm has a market capitalization of $23.38 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 2.87 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly 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). 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 for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities research analysts predict that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.17%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s payout ratio 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.