Verition Fund Management LLC Lowers Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Verition Fund Management LLC reduced its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 458,732 shares of the insurance provider’s stock after selling 60,702 shares during the period. Cincinnati Financial comprises 0.3% of Verition Fund Management LLC’s investment portfolio, making the stock its 19th largest holding. Verition Fund Management LLC owned approximately 0.29% of Cincinnati Financial worth $62,443,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Cincinnati Financial by 26.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after buying an additional 1,218,919 shares during the period. AQR Capital Management LLC lifted its position 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 valued at $115,758,000 after acquiring an additional 277,550 shares during the period. Dimensional Fund Advisors LP boosted its position in Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in shares of Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after buying an additional 107,081 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Cincinnati Financial by 126.4% in the second quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock valued at $21,259,000 after purchasing an additional 100,487 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $160.16 on Friday. Cincinnati Financial Co. has a 1-year low of $99.92 and a 1-year high of $161.74. The stock has a market cap of $25.04 billion, a P/E ratio of 8.23, a PEG ratio of 3.06 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50-day moving average of $143.14 and a two-hundred day moving average of $130.57.

Cincinnati Financial (NASDAQ:CINF) last issued 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 company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 EPS. On average, research analysts expect that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.02%. Cincinnati Financial’s dividend payout ratio (DPR) is 16.65%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CINF. Piper Sandler lifted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Company 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.