Los Angeles Capital Management LLC Decreases Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Los Angeles Capital Management LLC reduced its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 44.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 527,590 shares of the insurance provider’s stock after selling 424,441 shares during the period. Los Angeles Capital Management LLC owned about 0.34% of Cincinnati Financial worth $71,816,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. lifted its position in Cincinnati Financial by 7.4% in the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after acquiring an additional 79 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Cincinnati Financial by 49.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after buying an additional 80 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cincinnati Financial by 1.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock valued at $761,000 after buying an additional 80 shares during the last quarter. Hartford Investment Management Co. raised its holdings in shares of Cincinnati Financial by 0.8% in the third quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock valued at $1,384,000 after buying an additional 80 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in shares of Cincinnati Financial by 4.3% in the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock valued at $271,000 after buying an additional 95 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CINF shares. Piper Sandler upped their target price 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. Keefe, Bruyette & Woods upped their target price 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. Roth Mkm upped their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Bank of America upped their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Price Performance

CINF traded up $1.57 on Friday, hitting $148.69. 412,717 shares of the company were exchanged, compared to its average volume of 615,388. 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 business’s fifty day moving average is $138.14 and its 200 day moving average is $127.00. Cincinnati Financial Co. has a fifty-two week low of $98.65 and a fifty-two week high of $150.96. The firm has a market capitalization of $23.24 billion, a P/E ratio of 7.64, a price-to-earnings-growth ratio of 2.84 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last issued its 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 company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.18%. Cincinnati Financial’s payout ratio is currently 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.