Intech Investment Management LLC Sells 102,344 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Intech Investment Management LLC cut its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 85.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,434 shares of the insurance provider’s stock after selling 102,344 shares during the period. Intech Investment Management LLC’s holdings in Cincinnati Financial were worth $2,165,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CINF. Norges Bank acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth $179,305,000. Los Angeles Capital Management LLC lifted its stake in shares of Cincinnati Financial by 16.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock valued at $134,077,000 after buying an additional 186,629 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cincinnati Financial by 5.3% during the fourth 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. Charles Schwab Investment Management Inc. increased its position in shares of Cincinnati Financial by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 909,126 shares of the insurance provider’s stock worth $94,058,000 after acquiring an additional 31,581 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Cincinnati Financial by 36.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 679,861 shares of the insurance provider’s stock worth $70,338,000 after acquiring an additional 180,355 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction on Monday, April 29th. The stock was acquired at an average price of $113.47 per share, with a total value of $113,470.00. Following the acquisition, the director now owns 53,988 shares in the company, valued at $6,126,018.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CINF shares. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $126.00 to $135.00 in a research report on Friday, June 28th. Bank of America increased their price target on shares of Cincinnati Financial from $143.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a research report on Monday, April 1st. Finally, BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cincinnati Financial Price Performance

NASDAQ CINF traded down $4.98 during trading on Friday, reaching $121.03. The company’s stock had a trading volume of 989,434 shares, compared to its average volume of 732,345. The stock has a market capitalization of $18.95 billion, a PE ratio of 8.05, a P/E/G ratio of 2.63 and a beta of 0.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a fifty day moving average of $117.40 and a 200 day moving average of $115.69. Cincinnati Financial Co. has a one year low of $96.86 and a one year high of $128.23.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The business had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. Analysts expect that Cincinnati Financial Co. will post 6.23 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, June 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.68%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Cincinnati Financial 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.