Advisors Asset Management Inc. Has $629,000 Stock Position in Cincinnati Financial Corporation $CINF

Advisors Asset Management Inc. cut its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 57.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,226 shares of the insurance provider’s stock after selling 5,637 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cincinnati Financial were worth $629,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CINF. Quintet Private Bank Europe S.A. bought a new stake in Cincinnati Financial in the 2nd quarter valued at $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Cincinnati Financial during the first quarter valued at about $32,000. AlphaQuest LLC lifted its stake in shares of Cincinnati Financial by 714.3% in the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after buying an additional 200 shares during the period. Carderock Capital Management Inc. acquired a new stake in Cincinnati Financial during the second quarter worth about $45,000. Finally, GoalVest Advisory LLC increased its stake in Cincinnati Financial by 58.9% during the second quarter. GoalVest Advisory LLC now owns 410 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 1.4%

CINF stock opened at $163.77 on Wednesday. The business has a fifty day moving average price of $160.38 and a 200 day moving average price of $153.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.30. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $169.86. The stock has a market capitalization of $25.55 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 4.35 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, topping the consensus estimate of $2.01 by $0.84. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, December 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 25.89%.

Analyst Ratings Changes

A number of brokerages have commented on CINF. Roth Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $171.67.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was bought at an average cost of $153.98 per share, with a total value of $153,980.00. Following the completion of the purchase, the director owned 58,482 shares in the company, valued at approximately $9,005,058.36. The trade was a 1.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.83% of the company’s stock.

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.