Intech Investment Management LLC Boosts Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Intech Investment Management LLC increased its position in Cincinnati Financial Co. (NASDAQ:CINF) by 16.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 11,519 shares of the insurance provider’s stock after purchasing an additional 1,669 shares during the period. Intech Investment Management LLC’s holdings in Cincinnati Financial were worth $1,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC bought a new stake in Cincinnati Financial during the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in Cincinnati Financial during the third quarter worth approximately $27,000. Future Financial Wealth Managment LLC bought a new stake in Cincinnati Financial during the third quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV increased its stake in Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Cincinnati Financial during the third quarter worth approximately $33,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CINF. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Bank of America upped their target price on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler upped their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Trading Up 1.9 %

CINF opened at $159.42 on Tuesday. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 8.19, a P/E/G ratio of 2.99 and a beta of 0.65. The stock’s 50 day moving average price is $141.71 and its 200-day moving average price is $129.87. Cincinnati Financial Co. has a one year low of $99.92 and a one year high of $159.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) 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 firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company earned $1.66 EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date is Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.03%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 16.65%.

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.