Patton Albertson Miller Group LLC Sells 201 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Patton Albertson Miller Group LLC lowered its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,564 shares of the insurance provider’s stock after selling 201 shares during the period. Patton Albertson Miller Group LLC’s holdings in Cincinnati Financial were worth $1,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its holdings in shares of Cincinnati Financial by 2.1% during the third quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock worth $460,000 after buying an additional 68 shares in the last quarter. Wealth Dimensions Group Ltd. increased its holdings in Cincinnati Financial by 0.9% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock valued at $1,098,000 after purchasing an additional 75 shares in the last quarter. UMB Bank n.a. raised its position in Cincinnati Financial by 7.4% in the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after purchasing an additional 79 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Cincinnati Financial by 49.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CINF. Piper Sandler upped their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods upped 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, October 29th. Finally, Bank of America raised their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $159.42 on Tuesday. The firm’s 50 day moving average price is $141.71 and its two-hundred day moving average price is $129.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Co. has a 52-week low of $99.92 and a 52-week high of $159.75. The stock has a market cap of $24.92 billion, a PE ratio of 8.19, a PEG ratio of 2.99 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 earnings per share. As a group, analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.03%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 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.