US Asset Management LLC Reduces Position in Cincinnati Financial Co. (NASDAQ:CINF)

US Asset Management LLC decreased its position in Cincinnati Financial Co. (NASDAQ:CINF) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,471 shares of the insurance provider’s stock after selling 181 shares during the period. US Asset Management LLC’s holdings in Cincinnati Financial were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CINF. Private Advisor Group LLC increased its stake in shares of Cincinnati Financial by 338.2% in the fourth quarter. Private Advisor Group LLC now owns 9,500 shares of the insurance provider’s stock worth $983,000 after acquiring an additional 13,489 shares during the period. Principal Securities Inc. acquired a new stake in Cincinnati Financial during the 4th quarter worth about $55,000. Dimensional Fund Advisors LP raised its stake in shares of Cincinnati Financial by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,093,275 shares of the insurance provider’s stock valued at $113,110,000 after buying an additional 54,687 shares during the last quarter. Ieq Capital LLC lifted its holdings in shares of Cincinnati Financial by 71.8% in the 4th quarter. Ieq Capital LLC now owns 5,609 shares of the insurance provider’s stock valued at $580,000 after buying an additional 2,344 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Cincinnati Financial by 0.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,496 shares of the insurance provider’s stock valued at $22,784,000 after buying an additional 1,445 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Bank of America reduced their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Roth Mkm lifted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus target price of $133.57.

Cincinnati Financial Stock Up 0.5 %

CINF stock opened at $135.82 on Friday. Cincinnati Financial Co. has a 52 week low of $96.86 and a 52 week high of $139.34. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $128.98 and a 200-day simple moving average of $121.41. The stock has a market capitalization of $21.22 billion, a P/E ratio of 9.04, a P/E/G ratio of 2.60 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Equities analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.39%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Cincinnati Financial Company Profile

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.