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

MAI Capital Management lowered its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 9.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,998 shares of the insurance provider’s stock after selling 3,627 shares during the quarter. MAI Capital Management’s holdings in Cincinnati Financial were worth $5,217,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LRI Investments LLC bought a new position in shares of Cincinnati Financial during the third quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new stake in Cincinnati Financial during the 3rd quarter worth $30,000. AlphaQuest LLC lifted its holdings in Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Quent Capital LLC acquired a new position in Cincinnati Financial in the third quarter valued at about $34,000. Finally, Field & Main Bank bought a new stake in shares of Cincinnati Financial in the third quarter worth about $47,000. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cincinnati Financial Trading Up 0.9%

NASDAQ:CINF opened at $165.20 on Friday. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $174.27. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $163.36 and a two-hundred day moving average price of $160.26. The company has a market cap of $25.71 billion, a P/E 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the company earned $3.14 earnings per share. The firm’s revenue was up 21.8% compared to the same quarter last year. As a group, analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

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

About Cincinnati Financial

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.