Allspring Global Investments Holdings LLC Decreases Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Allspring Global Investments Holdings LLC reduced its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 63.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,305 shares of the insurance provider’s stock after selling 12,675 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cincinnati Financial were worth $994,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Moisand Fitzgerald Tamayo LLC bought a new position in Cincinnati Financial during the third quarter valued at $25,000. Future Financial Wealth Managment LLC purchased a new position in shares of Cincinnati Financial during the 3rd quarter valued at $29,000. Massmutual Trust Co. FSB ADV grew its stake 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 acquiring an additional 80 shares during the period. USA Financial Formulas purchased a new stake in Cincinnati Financial in the 3rd quarter worth about $33,000. Finally, Rothschild Investment LLC bought a new stake in Cincinnati Financial in the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CINF shares. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday. Bank of America lifted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Piper Sandler increased 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. Finally, Roth Mkm raised their price target on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Stock Down 1.8 %

CINF opened at $140.83 on Friday. The company has a fifty day moving average price of $136.98 and a 200-day moving average price of $125.87. Cincinnati Financial Co. has a one year low of $98.65 and a one year high of $145.33. The firm has a market capitalization of $22.01 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data 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 return on equity of 9.10% and a net margin of 20.20%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities research analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Cincinnati Financial 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.