Aljian Capital Management LLC Invests $1.42 Million in Cincinnati Financial Co. (NASDAQ:CINF)

Aljian Capital Management LLC purchased a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the third quarter, Holdings Channel reports. The firm purchased 10,415 shares of the insurance provider’s stock, valued at approximately $1,418,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CINF. AQR Capital Management LLC grew its position in Cincinnati Financial by 39.4% during the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after buying an additional 277,550 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 acquiring an additional 187,934 shares during the last quarter. Natixis bought a new position in shares of Cincinnati Financial during the 1st quarter valued at approximately $22,053,000. Bahl & Gaynor Inc. increased its stake in shares of Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after purchasing an additional 107,081 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Cincinnati Financial by 126.4% in the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock worth $21,259,000 after purchasing an additional 100,487 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cincinnati Financial Stock Performance

Shares of CINF opened at $151.78 on Monday. Cincinnati Financial Co. has a 52-week low of $99.61 and a 52-week high of $152.30. The stock’s 50-day simple moving average is $139.54 and its 200 day simple moving average is $128.31. 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 has a market capitalization of $23.73 billion, a price-to-earnings ratio of 7.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65.

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

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.13%. Cincinnati Financial’s payout ratio is 16.65%.

About Cincinnati Financial

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.