Victory Capital Management Inc. Trims Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Victory Capital Management Inc. decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 10.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,454 shares of the insurance provider’s stock after selling 21,621 shares during the quarter. Victory Capital Management Inc.’s holdings in Cincinnati Financial were worth $24,291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CINF. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Cincinnati Financial by 1.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock worth $178,845,000 after purchasing an additional 16,451 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cincinnati Financial by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after buying an additional 187,934 shares in the last quarter. Bahl & Gaynor Inc. raised its position in shares of Cincinnati Financial by 10.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after acquiring an additional 107,081 shares during the period. AQR Capital Management LLC boosted its stake in shares of Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after acquiring an additional 277,550 shares in the last quarter. Finally, Boston Trust Walden Corp grew its position in shares of Cincinnati Financial by 2.6% during the 3rd quarter. Boston Trust Walden Corp now owns 777,588 shares of the insurance provider’s stock valued at $105,845,000 after acquiring an additional 19,793 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CINF. Bank of America increased their price target on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Roth Mkm increased their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Trading Up 1.5 %

Shares of CINF stock opened at $151.78 on Monday. Cincinnati Financial Co. has a fifty-two week low of $99.61 and a fifty-two week high of $152.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s fifty day moving average is $139.54 and its two-hundred day moving average is $128.31. The firm has a market capitalization of $23.73 billion, a P/E ratio of 7.80, a PEG ratio of 2.89 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The business’s quarterly revenue was up 21.5% on a year-over-year basis. Research analysts expect that Cincinnati Financial Co. will post 6.32 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.13%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Cincinnati Financial 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.