Kingsview Wealth Management LLC Sells 15,977 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Kingsview Wealth Management LLC reduced its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 85.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,674 shares of the insurance provider’s stock after selling 15,977 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Cincinnati Financial were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in Cincinnati Financial by 7.4% during the 3rd 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 last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Cincinnati Financial by 49.4% during 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 period. Northwestern Mutual Wealth Management Co. grew its position in shares of Cincinnati Financial by 1.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after buying an additional 80 shares during the period. Hartford Investment Management Co. grew its position in shares of Cincinnati Financial by 0.8% during the 3rd quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock worth $1,384,000 after buying an additional 80 shares during the period. Finally, iA Global Asset Management Inc. grew its position in shares of Cincinnati Financial by 4.3% during the 2nd quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock worth $271,000 after buying an additional 95 shares during the period. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CINF shares. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Bank of America boosted their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Piper Sandler boosted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Two research 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 presently has an average rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Price Performance

Shares of CINF opened at $160.16 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day simple moving average of $143.14 and a 200 day simple moving average of $130.57. Cincinnati Financial Co. has a 52-week low of $99.92 and a 52-week high of $161.74. The firm has a market capitalization of $25.04 billion, a PE ratio of 8.23, a P/E/G ratio of 3.04 and a beta of 0.65.

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). The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 EPS. Sell-side analysts predict that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, December 19th. 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.