Commerce Bank Sells 566 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Commerce Bank decreased its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,056 shares of the insurance provider’s stock after selling 566 shares during the quarter. Commerce Bank’s holdings in Cincinnati Financial were worth $1,233,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CINF. Bessemer Group Inc. lifted its stake in Cincinnati Financial by 57.9% in the first quarter. Bessemer Group Inc. now owns 1,342 shares of the insurance provider’s stock valued at $167,000 after buying an additional 492 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in Cincinnati Financial in the first quarter valued at approximately $201,000. Advisors Asset Management Inc. lifted its stake in Cincinnati Financial by 165.4% in the first quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider’s stock valued at $968,000 after buying an additional 4,856 shares in the last quarter. Quadrature Capital Ltd bought a new position in Cincinnati Financial in the first quarter valued at approximately $788,000. Finally, 1832 Asset Management L.P. bought a new position in Cincinnati Financial in the first quarter valued at approximately $2,419,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $156.47 on Monday. The company has a market capitalization of $24.46 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.65. Cincinnati Financial Co. has a 12-month low of $99.92 and a 12-month high of $156.87. The firm’s 50 day moving average is $141.26 and its 200-day moving average is $129.58. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Equities research analysts anticipate that Cincinnati Financial Co. will post 6.32 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.07%. Cincinnati Financial’s dividend payout ratio (DPR) is 16.65%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CINF. Piper Sandler lifted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, 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 report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.57.

About Cincinnati Financial

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.