ProShare Advisors LLC Sells 51,172 Shares of Cincinnati Financial Corporation $CINF

ProShare Advisors LLC cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,173,406 shares of the insurance provider’s stock after selling 51,172 shares during the quarter. ProShare Advisors LLC’s holdings in Cincinnati Financial were worth $185,515,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CINF. Bison Wealth LLC bought a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after acquiring an additional 525 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after acquiring an additional 173,343 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Cincinnati Financial in the second quarter valued at $75,000. Finally, DAVENPORT & Co LLC grew its position in shares of Cincinnati Financial by 7.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 3,292 shares of the insurance provider’s stock valued at $490,000 after acquiring an additional 235 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CINF shares. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Roth Mkm reiterated a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Piper Sandler boosted their target price on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and a consensus price target of $174.33.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $172.65 on Monday. The company has a market capitalization of $26.94 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 3.89 and a beta of 0.66. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $174.27. The stock’s 50 day moving average is $163.57 and its 200-day moving average is $159.03.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio (DPR) is 25.89%.

Cincinnati Financial Company Profile

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.