MAI Capital Management Sells 3,627 Shares of Cincinnati Financial Corporation $CINF

MAI Capital Management decreased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 9.9% during the 3rd quarter, Holdings Channel reports. The firm owned 32,998 shares of the insurance provider’s stock after selling 3,627 shares during the period. MAI Capital Management’s holdings in Cincinnati Financial were worth $5,217,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CINF. Cibc World Market Inc. acquired a new position in shares of Cincinnati Financial during the 3rd quarter worth about $2,511,000. Strs Ohio lifted its stake in Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after purchasing an additional 71,378 shares during the last quarter. AE Wealth Management LLC grew its holdings in Cincinnati Financial by 1,102.8% during the third quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock worth $8,063,000 after purchasing an additional 46,757 shares during the period. Western Wealth Management LLC acquired a new position in Cincinnati Financial during the third quarter worth approximately $1,622,000. Finally, Narwhal Capital Management increased its position in Cincinnati Financial by 62.4% during the third quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock worth $7,109,000 after buying an additional 17,276 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CINF. Piper Sandler raised their price objective on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Stock Performance

CINF opened at $165.20 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.30. The business has a fifty day simple moving average of $163.36 and a 200 day simple moving average of $160.26. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $174.27. The company has a market capitalization of $25.71 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 3.65 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.51. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.14 EPS. Research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be paid a $0.94 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 annualized dividend and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio is presently 22.94%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.