Acadian Asset Management LLC Sells 56,690 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Acadian Asset Management LLC lessened its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 62.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,490 shares of the insurance provider’s stock after selling 56,690 shares during the quarter. Acadian Asset Management LLC’s holdings in Cincinnati Financial were worth $4,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its position in shares of Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Cincinnati Financial in the 2nd quarter worth $29,000. Raleigh Capital Management Inc. purchased a new position in Cincinnati Financial during the 4th quarter worth $31,000. Future Financial Wealth Managment LLC acquired a new position in Cincinnati Financial during the 1st quarter valued at about $47,000. Finally, Innealta Capital LLC purchased a new stake in Cincinnati Financial in the second quarter valued at about $52,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $135.12 on Friday. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $139.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $21.15 billion, a P/E ratio of 8.99, a PEG ratio of 2.63 and a beta of 0.66. The stock has a 50-day simple moving average of $128.58 and a two-hundred day simple moving average of $121.25.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly 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 return on equity of 9.10% and a net margin of 20.20%. Cincinnati Financial’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. On average, equities analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be given 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 2.40%. Cincinnati Financial’s dividend payout ratio is presently 21.56%.

Analyst Ratings Changes

CINF has been the topic of a number of research analyst reports. Roth Mkm boosted their price target on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America dropped their target price on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $135.00 in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.57.

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.