Cincinnati Financial Corporation $CINF Position Trimmed by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 21.6% during the third quarter, HoldingsChannel reports. The firm owned 37,507 shares of the insurance provider’s stock after selling 10,360 shares during the period. Nisa Investment Advisors LLC’s holdings in Cincinnati Financial were worth $6,013,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. BIP Wealth LLC lifted its position in Cincinnati Financial by 1.6% in the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after buying an additional 63 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Cincinnati Financial by 2.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock valued at $577,000 after acquiring an additional 64 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Cincinnati Financial by 0.5% during the second quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock worth $2,616,000 after purchasing an additional 68 shares during the period. McAdam LLC grew its stake in Cincinnati Financial by 2.6% in the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock valued at $512,000 after buying an additional 70 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 83 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $176.30 on Friday. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 3.00 and a beta of 0.52. The company has a 50 day moving average of $168.31 and a 200-day moving average of $170.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the company earned $1.97 EPS. On average, equities analysts forecast that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were given a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.1%. Cincinnati Financial’s payout ratio is presently 17.74%.

Insider Activity at Cincinnati Financial

In related news, Director Dirk Debbink acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares of the company’s stock, valued at $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CINF. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Piper Sandler raised their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Finally, Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus target price of $191.60.

Cincinnati Financial Profile

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.