Martingale Asset Management L P Sells 2,025 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Martingale Asset Management L P decreased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 27.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,306 shares of the insurance provider’s stock after selling 2,025 shares during the period. Martingale Asset Management L P’s holdings in Cincinnati Financial were worth $722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its stake in shares of Cincinnati Financial by 20.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,585 shares of the insurance provider’s stock valued at $321,000 after purchasing an additional 444 shares during the period. Tidal Investments LLC boosted its holdings in Cincinnati Financial by 115.5% during the first quarter. Tidal Investments LLC now owns 7,949 shares of the insurance provider’s stock worth $987,000 after purchasing an additional 4,261 shares during the last quarter. Swedbank AB bought a new position in Cincinnati Financial in the first quarter valued at $953,000. Cetera Investment Advisers increased its stake in Cincinnati Financial by 178.5% in the 1st quarter. Cetera Investment Advisers now owns 20,322 shares of the insurance provider’s stock valued at $2,523,000 after buying an additional 13,026 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Cincinnati Financial by 2.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 25,518 shares of the insurance provider’s stock worth $3,134,000 after buying an additional 594 shares in 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 $157.58 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $24.63 billion, a P/E ratio of 8.10, a P/E/G ratio of 3.05 and a beta of 0.65. Cincinnati Financial Co. has a 12 month low of $100.31 and a 12 month high of $161.74. The stock has a 50 day moving average of $144.07 and a 200-day moving average of $131.32.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $1.66 earnings per share. As a group, equities research analysts predict that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.06%. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CINF. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Bank of America increased their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $138.57.

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.