Assetmark Inc. Purchases 3,365 Shares of Cincinnati Financial Corporation $CINF

Assetmark Inc. boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 97.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,818 shares of the insurance provider’s stock after acquiring an additional 3,365 shares during the period. Assetmark Inc.’s holdings in Cincinnati Financial were worth $1,114,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Cibc World Market Inc. acquired a new position in Cincinnati Financial in the third quarter valued at about $2,511,000. Strs Ohio lifted its stake in Cincinnati Financial by 322.9% in the third quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after buying an additional 71,378 shares during the period. Western Wealth Management LLC acquired a new position in Cincinnati Financial in the third quarter valued at about $1,622,000. Johnson Investment Counsel Inc. lifted its stake in Cincinnati Financial by 2.8% in the third quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock valued at $222,238,000 after buying an additional 37,913 shares during the period. Finally, AE Wealth Management LLC lifted its stake in Cincinnati Financial by 1,102.8% in the third quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock valued at $8,063,000 after buying an additional 46,757 shares during the period. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America cut their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Wall Street Zen cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings downgraded Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, March 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $191.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.75.

Cincinnati Financial Trading Up 0.3%

NASDAQ CINF opened at $166.46 on Wednesday. The firm has a market cap of $25.92 billion, a P/E ratio of 10.97, a P/E/G ratio of 4.38 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The stock’s 50-day moving average is $162.48 and its 200-day moving average is $162.39. Cincinnati Financial Corporation has a one year low of $129.55 and a one year high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.51. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $2.92 billion. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.Cincinnati Financial’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.14 earnings per share. Sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.39 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th were given a dividend of $0.94 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, March 24th. Cincinnati Financial’s payout ratio is 24.79%.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.