Mesirow Institutional Investment Management Inc. Reduces Position in Cincinnati Financial Co. (NASDAQ:CINF)

Mesirow Institutional Investment Management Inc. trimmed its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 31.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,507 shares of the insurance provider’s stock after selling 10,232 shares during the quarter. Mesirow Institutional Investment Management Inc.’s holdings in Cincinnati Financial were worth $2,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Cincinnati Financial in the 4th quarter worth about $179,305,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Cincinnati Financial by 1.1% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after purchasing an additional 16,451 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Cincinnati Financial by 5.3% in 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 purchasing an additional 54,687 shares during the period. Bahl & Gaynor Inc. grew its stake in Cincinnati Financial by 0.3% in the first quarter. Bahl & Gaynor Inc. now owns 1,008,406 shares of the insurance provider’s stock worth $125,214,000 after purchasing an additional 3,191 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cincinnati Financial by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,126 shares of the insurance provider’s stock valued at $94,058,000 after purchasing an additional 31,581 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Cincinnati Financial Trading Up 0.4 %

Cincinnati Financial stock opened at $137.57 on Wednesday. The stock has a 50-day moving average price of $125.92 and a 200 day moving average price of $120.17. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 2.66 and a beta of 0.65. Cincinnati Financial Co. has a 52 week low of $96.86 and a 52 week high of $138.42. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. Sell-side analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be given a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.36%. Cincinnati Financial’s dividend payout ratio 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.