Intech Investment Management LLC Has $1.16 Million Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Intech Investment Management LLC cut its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 43.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,850 shares of the insurance provider’s stock after selling 7,584 shares during the quarter. Intech Investment Management LLC’s holdings in Cincinnati Financial were worth $1,163,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Paces Ferry Wealth Advisors LLC bought a new stake in Cincinnati Financial during the second quarter valued at $254,000. Waterloo Capital L.P. boosted its position in shares of Cincinnati Financial by 24.9% during the 2nd quarter. Waterloo Capital L.P. now owns 6,469 shares of the insurance provider’s stock valued at $764,000 after purchasing an additional 1,290 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Cincinnati Financial by 11.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,709 shares of the insurance provider’s stock worth $1,242,000 after purchasing an additional 1,105 shares during the period. Amalgamated Bank increased its holdings in Cincinnati Financial by 30.5% in the second quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock worth $4,976,000 after purchasing an additional 9,854 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in Cincinnati Financial by 261.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,508 shares of the insurance provider’s stock valued at $1,595,000 after buying an additional 9,768 shares during the period. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Cincinnati Financial Stock Down 0.0 %

Shares of NASDAQ:CINF opened at $136.19 on Wednesday. The business’s 50 day moving average is $131.13 and its 200 day moving average is $122.57. Cincinnati Financial Co. has a 12-month low of $96.86 and a 12-month high of $139.34. The stock has a market cap of $21.32 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 2.60 and a beta of 0.66. 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 quarterly earnings data 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 firm had revenue of $2.08 billion for 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 business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS. On average, sell-side analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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 2.38%. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Cincinnati Financial 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.