Manning & Napier Advisors LLC Trims Position in Cincinnati Financial Corporation $CINF

Manning & Napier Advisors LLC reduced its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 15.1% in the 4th quarter, Holdings Channel reports. The fund owned 20,881 shares of the insurance provider’s stock after selling 3,721 shares during the period. Manning & Napier Advisors LLC’s holdings in Cincinnati Financial were worth $3,444,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CINF. Raymond James Financial Inc. boosted its holdings in shares of Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after purchasing an additional 262,715 shares during the last quarter. Korea Investment CORP increased its stake in Cincinnati Financial by 210.0% in the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after purchasing an additional 199,437 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in Cincinnati Financial during the fourth quarter worth about $32,692,000. Goldman Sachs Group Inc. lifted its position in Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after buying an additional 173,343 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in Cincinnati Financial by 3,892.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 145,890 shares of the insurance provider’s stock worth $23,065,000 after buying an additional 142,236 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.3%

NASDAQ CINF opened at $161.50 on Friday. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 3.51 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. Cincinnati Financial Corporation has a one year low of $143.37 and a one year high of $174.27. The company’s 50 day moving average price is $162.66 and its 200 day moving average price is $162.71.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business earned ($0.24) earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be given a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is 21.50%.

Analysts Set New Price Targets

CINF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, April 21st. Roth Mkm upped their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Bank of America cut their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial has an average rating of “Buy” and an average price target of $178.75.

Cincinnati Financial Profile

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.