Assenagon Asset Management S.A. Decreases Position in Cincinnati Financial Co. (NASDAQ:CINF)

Assenagon Asset Management S.A. lowered its position in Cincinnati Financial Co. (NASDAQ:CINF) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,314 shares of the insurance provider’s stock after selling 1,680 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of Cincinnati Financial worth $13,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC purchased a new position in Cincinnati Financial during the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Cincinnati Financial in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $27,000. Future Financial Wealth Managment LLC acquired a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $29,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Cincinnati Financial by 49.4% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $157.19 per share, with a total value of $157,190.00. Following the purchase, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.83% of the stock is owned by company insiders.

Cincinnati Financial Trading Down 1.6 %

Shares of CINF stock opened at $140.66 on Friday. Cincinnati Financial Co. has a 1-year low of $104.78 and a 1-year high of $161.74. The firm’s 50-day simple moving average is $148.67 and its 200-day simple moving average is $138.15. The firm has a market cap of $21.99 billion, a P/E ratio of 7.23, a PEG ratio of 2.25 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.24 billion. During the same period in the prior year, the business earned $1.66 EPS. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities analysts forecast that Cincinnati Financial Co. will post 6.3 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, December 19th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, December 19th. Cincinnati Financial’s payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CINF shares. Keefe, Bruyette & Woods boosted their target price 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. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Bank of America raised 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

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.