Xponance Inc. Sells 517 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Xponance Inc. reduced its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,276 shares of the insurance provider’s stock after selling 517 shares during the quarter. Xponance Inc.’s holdings in Cincinnati Financial were worth $2,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after buying an additional 187,934 shares during the period. Balyasny Asset Management L.P. increased its position in Cincinnati Financial by 36.1% during the fourth 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 period. Natixis acquired a new position in Cincinnati Financial during the 1st quarter valued at $22,053,000. Bank of Nova Scotia boosted its holdings in Cincinnati Financial by 375.8% in the 4th quarter. Bank of Nova Scotia now owns 164,455 shares of the insurance provider’s stock valued at $17,014,000 after purchasing an additional 129,889 shares during the period. Finally, Bahl & Gaynor Inc. grew its position in Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after purchasing an additional 107,081 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $134.96 on Friday. The stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66. The business’s fifty day moving average price is $131.29 and its two-hundred day moving average price is $122.65. 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 current ratio of 0.27 and a quick ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping 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 net margin of 20.20% and a return on equity of 9.10%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $1.21 EPS. As a group, analysts predict that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm 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 is Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.40%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Wall Street Analyst Weigh In

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