Cincinnati Financial Corporation $CINF Stock: Boston Trust Walden Corp Cuts Holdings

Key Points

• Boston Trust Walden cut its Cincinnati Financial stake by 6.6% in the third quarter, selling 48,357 shares; it retained 688,954 shares valued at about $109.8 million.
• Cincinnati Financial reported quarterly EPS of $2.86, beating the $2.05 analyst consensus, while revenue of $3.05 billion also exceeded estimates. Revenue rose 4.8% year over year.
• The insurer’s quarterly dividend was $0.94 per share, equivalent to $3.76 annually and a 2.0% yield; analysts’ consensus rating was “Moderate Buy,” with a $191.60 average target price.

Boston Trust Walden Corp lessened its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 688,954 shares of the insurance provider's stock after selling 48,357 shares during the period. Cincinnati Financial comprises 0.9% of Boston Trust Walden Corp's investment portfolio, making the stock its 18th largest holding. Boston Trust Walden Corp owned about 0.45% of Cincinnati Financial worth $109,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CINF. State Street Corp increased its position in shares of Cincinnati Financial by 225.5% in the second quarter. State Street Corp now owns 26,974,052 shares of the insurance provider's stock worth $4,993,976,000 after acquiring an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Cincinnati Financial by 1,474.8% during 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 acquiring an additional 2,100,563 shares during the period. Bank of America Corp DE acquired a new stake in shares of Cincinnati Financial during the second quarter valued at approximately $347,891,000. Assenagon Asset Management S.A. acquired a new stake in shares of Cincinnati Financial during the third quarter valued at approximately $248,705,000. Finally, GQG Partners LLC purchased a new stake in shares of Cincinnati Financial in the 2nd quarter valued at approximately $216,679,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Trading Up 3.3%

NASDAQ:CINF opened at $190.48 on Thursday. The stock has a market cap of $29.24 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. Cincinnati Financial Corporation has a fifty-two week low of $153.40 and a fifty-two week high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.27 and a quick ratio of 0.27. The stock's 50-day moving average is $170.28 and its two-hundred day moving average is $168.50.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.64 billion. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.85 earnings per share. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 9.26 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio is currently 22.05%.

Insiders Place Their Bets

In related news, Director Dirk Debbink bought 1,000 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was bought at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.94% of the company's stock.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of recent analyst reports. Roth Capital raised their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Bank of America cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. 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 research note on Wednesday, July 15th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a report on Wednesday, July 15th. Finally, Weiss Ratings cut Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.60.

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.

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