Huntington National Bank lessened its position in Cincinnati Financial Co. (NASDAQ:CINF) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,667 shares of the insurance provider’s stock after selling 4,581 shares during the period. Huntington National Bank owned approximately 0.15% of Cincinnati Financial worth $15,922,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Pathstone Family Office LLC bought a new position in Cincinnati Financial during the first quarter worth $26,000. FDx Advisors Inc. increased its position in Cincinnati Financial by 256.7% during the first quarter. FDx Advisors Inc. now owns 25,179 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 18,121 shares during the period. Citizens Financial Group Inc RI increased its position in Cincinnati Financial by 119.1% during the first quarter. Citizens Financial Group Inc RI now owns 447 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 243 shares during the period. Horan Securities Inc. bought a new position in Cincinnati Financial during the first quarter worth $47,000. Finally, WASHINGTON TRUST Co bought a new position in Cincinnati Financial during the first quarter worth $47,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ CINF traded down $1.88 on Friday, hitting $77.93. 2,517,908 shares of the company were exchanged, compared to its average volume of 1,219,857. The firm has a 50 day moving average of $69.38 and a two-hundred day moving average of $80.78. The company has a market cap of $12.54 billion, a P/E ratio of 23.26 and a beta of 0.51. The company has a current ratio of 0.28, a quick ratio of 0.26 and a debt-to-equity ratio of 0.10. Cincinnati Financial Co. has a 1-year low of $46.07 and a 1-year high of $118.19.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $1.65 billion. Cincinnati Financial had a net margin of 25.20% and a return on equity of 6.46%. The firm’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Research analysts anticipate that Cincinnati Financial Co. will post 3.08 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.40 annualized dividend and a yield of 3.08%. Cincinnati Financial’s dividend payout ratio is currently 57.14%.

A number of equities research analysts have weighed in on CINF shares. Deutsche Bank upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a research note on Tuesday, June 16th. Piper Sandler decreased their price target on shares of Cincinnati Financial from $95.00 to $70.00 and set an “underweight” rating on the stock in a research note on Monday, April 6th. Credit Suisse Group downgraded shares of Cincinnati Financial from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $68.00 to $54.00 in a research note on Wednesday, May 6th. Royal Bank of Canada upgraded shares of Cincinnati Financial from a “sector perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a research note on Wednesday, June 3rd. Finally, MKM Partners decreased their price target on shares of Cincinnati Financial from $135.00 to $100.00 in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $74.13.

In other Cincinnati Financial news, SVP Teresa C. Cracas sold 100,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $82.79, for a total transaction of $8,279,000.00. Following the completion of the sale, the senior vice president now directly owns 29,505 shares of the company’s stock, valued at approximately $2,442,718.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.40% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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