Acadian Asset Management LLC Has $11.32 Million Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Acadian Asset Management LLC decreased its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 63.9% in the first quarter, Holdings Channel.com reports. The firm owned 91,180 shares of the insurance provider’s stock after selling 161,216 shares during the period. Acadian Asset Management LLC’s holdings in Cincinnati Financial were worth $11,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CINF. Assetmark Inc. lifted its holdings in shares of Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after buying an additional 174 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in Cincinnati Financial during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new stake in Cincinnati Financial in the fourth quarter worth approximately $31,000. Raleigh Capital Management Inc. bought a new stake in Cincinnati Financial in the fourth quarter worth approximately $31,000. Finally, Integrated Investment Consultants LLC bought a new position in shares of Cincinnati Financial during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the transaction, the director now directly owns 53,988 shares in the company, valued at $6,126,018.36. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.83% of the stock is owned by insiders.

Cincinnati Financial Price Performance

NASDAQ:CINF traded down $4.98 during mid-day trading on Friday, hitting $121.03. The company’s stock had a trading volume of 989,434 shares, compared to its average volume of 732,345. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $117.40 and a 200-day moving average of $115.76. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 2.63 and a beta of 0.65. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $128.23.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company earned $0.89 EPS. Cincinnati Financial’s revenue was up 31.0% on a year-over-year basis. As a group, equities analysts forecast that Cincinnati Financial Co. will post 6.23 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were paid a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.68%. Cincinnati Financial’s dividend payout ratio is presently 21.56%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CINF shares. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $126.00 to $135.00 in a report on Friday, June 28th. Piper Sandler restated a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. Bank of America increased their price target on Cincinnati Financial from $143.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

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.