Ascent Group LLC Cuts Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Ascent Group LLC lessened its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 9.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,930 shares of the insurance provider’s stock after selling 2,278 shares during the period. Ascent Group LLC’s holdings in Cincinnati Financial were worth $2,590,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. iA Global Asset Management Inc. raised its stake in shares of Cincinnati Financial by 4.3% in the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock valued at $271,000 after buying an additional 95 shares during the period. Argent Trust Co lifted its holdings in Cincinnati Financial by 5.0% during the second quarter. Argent Trust Co now owns 2,009 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 95 shares during the last quarter. Trust Co. of Vermont boosted its position in Cincinnati Financial by 9.4% during the fourth quarter. Trust Co. of Vermont now owns 1,389 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 119 shares during the period. Mayflower Financial Advisors LLC increased its stake in shares of Cincinnati Financial by 6.2% in the second quarter. Mayflower Financial Advisors LLC now owns 2,147 shares of the insurance provider’s stock worth $254,000 after purchasing an additional 126 shares in the last quarter. Finally, Czech National Bank raised its position in shares of Cincinnati Financial by 0.5% in the first quarter. Czech National Bank now owns 27,624 shares of the insurance provider’s stock valued at $3,430,000 after purchasing an additional 143 shares during the period. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Cincinnati Financial Price Performance

CINF stock opened at $135.64 on Monday. The firm has a 50 day simple moving average of $131.77 and a two-hundred day simple moving average of $122.93. The stock has a market cap of $21.24 billion, a PE ratio of 9.02, a P/E/G ratio of 2.65 and a beta of 0.66. Cincinnati Financial Co. has a one year low of $96.86 and a one year 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 the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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 of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.39%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

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.