Royal London Asset Management Ltd. Grows Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Royal London Asset Management Ltd. boosted its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 52.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,563 shares of the insurance provider’s stock after acquiring an additional 33,017 shares during the period. Royal London Asset Management Ltd. owned 0.06% of Cincinnati Financial worth $11,404,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CINF. Assetmark Inc. grew its holdings in shares of Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC purchased a new position in Cincinnati Financial during the second quarter worth about $29,000. Raleigh Capital Management Inc. acquired a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $31,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Cincinnati Financial in the 1st quarter valued at approximately $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Cincinnati Financial in the 2nd quarter worth approximately $49,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $135.12 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $21.15 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 2.63 and a beta of 0.66. The stock’s 50-day moving average is $128.58 and its two-hundred day moving average is $121.25. Cincinnati Financial Co. has a 1-year low of $96.86 and a 1-year high of $139.34.

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

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.81 per share. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.40%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

Wall Street Analysts Forecast Growth

CINF has been the subject of several research reports. Roth Mkm lifted their target price 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. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Bank of America decreased their target price on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $126.00 to $135.00 in a research report on Friday, June 28th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.57.

About Cincinnati Financial

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.