ProShare Advisors LLC Has $173.34 Million Position in Cincinnati Financial Corporation $CINF

ProShare Advisors LLC cut its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,061,364 shares of the insurance provider’s stock after selling 112,042 shares during the quarter. ProShare Advisors LLC owned 0.68% of Cincinnati Financial worth $173,342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CINF. Raymond James Financial Inc. raised its position in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares in the last quarter. Korea Investment CORP increased its position in Cincinnati Financial by 210.0% during the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock worth $46,548,000 after purchasing an additional 199,437 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Cincinnati Financial during the 4th quarter worth approximately $32,692,000. Goldman Sachs Group Inc. increased its position in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after purchasing an additional 173,343 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Cincinnati Financial by 3,892.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 145,890 shares of the insurance provider’s stock worth $23,065,000 after purchasing an additional 142,236 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Up 0.7%

Shares of NASDAQ CINF opened at $167.65 on Tuesday. 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 52-week low of $143.37 and a 52-week high of $174.27. The firm has a 50 day moving average price of $162.37 and a two-hundred day moving average price of $163.15. The stock has a market cap of $25.93 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 3.61 and a beta of 0.59.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the company posted ($0.24) EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared 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. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is 21.50%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CINF. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Roth Mkm upped their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Bank of America lowered their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings cut shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.