Perpetual Ltd Sells 1,193 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Perpetual Ltd reduced its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 22.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,177 shares of the insurance provider’s stock after selling 1,193 shares during the period. Perpetual Ltd’s holdings in Cincinnati Financial were worth $569,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in Cincinnati Financial by 4.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock worth $23,367,000 after buying an additional 7,709 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Cincinnati Financial by 40.6% in the first quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock worth $20,904,000 after buying an additional 48,597 shares in the last quarter. United Advisor Group LLC bought a new position in Cincinnati Financial in the fourth quarter worth about $888,000. Vest Financial LLC raised its stake in Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after buying an additional 46,530 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Cincinnati Financial by 77.3% during the first quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock valued at $5,326,000 after purchasing an additional 18,704 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Trading Up 1.0 %

NASDAQ:CINF opened at $136.39 on Friday. The company’s 50 day moving average price is $133.72 and its 200-day moving average price is $123.93. Cincinnati Financial Co. has a 52 week low of $96.86 and a 52 week high of $139.34. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. The stock has a market cap of $21.35 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.62 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is 21.56%.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of analyst reports. Roth Mkm raised their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Bank of America raised their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.29.

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.