Bahl & Gaynor LLC Sells 1,855,681 Shares of Cincinnati Financial Corporation $CINF

Bahl & Gaynor LLC lessened its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 60.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,215,993 shares of the insurance provider’s stock after selling 1,855,681 shares during the period. Cincinnati Financial makes up approximately 0.9% of Bahl & Gaynor LLC’s holdings, making the stock its 27th largest holding. Bahl & Gaynor LLC’s holdings in Cincinnati Financial were worth $193,793,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Keating Financial Advisory Services Inc. purchased a new position in Cincinnati Financial during the second quarter worth $27,000. Covestor Ltd increased its position in Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cincinnati Financial in the first quarter valued at $34,000. Elevation Wealth Partners LLC raised its stake in shares of Cincinnati Financial by 230.8% in the third quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 150 shares during the period. Finally, GK Wealth Management LLC purchased a new stake in shares of Cincinnati Financial in the third quarter valued at $36,000. 65.24% of the stock is currently owned by institutional investors.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk Debbink bought 1,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director directly owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.94% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CINF has been the subject of several analyst reports. Piper Sandler raised their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a research report on Monday, October 12th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Finally, Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $189.89 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $171.54 and its two-hundred day moving average is $169.03. Cincinnati Financial Corporation has a 52 week low of $153.40 and a 52 week high of $195.72. The company has a market capitalization of $29.15 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 2.95 and a beta of 0.48.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.81. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.64 billion. Cincinnati Financial had a return on equity of 9.48% and a net margin of 20.07%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share. As a group, analysts expect that Cincinnati Financial Corporation will post 9.21 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, September 23rd. Cincinnati Financial’s payout ratio is 22.05%.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.