Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by AGF Management Ltd.

AGF Management Ltd. cut its position in Cincinnati Financial Co. (NASDAQ:CINF) by 25.5% in the fourth quarter, Holdings Channel reports. The firm owned 20,375 shares of the insurance provider’s stock after selling 6,990 shares during the period. AGF Management Ltd.’s holdings in Cincinnati Financial were worth $2,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after acquiring an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock valued at $52,531,000 after purchasing an additional 329,435 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after purchasing an additional 147,542 shares during the period. SG Americas Securities LLC grew its position in Cincinnati Financial by 3,381.8% during the 4th quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock worth $20,228,000 after purchasing an additional 136,725 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Cincinnati Financial by 73.8% in the fourth quarter. Victory Capital Management Inc. now owns 310,079 shares of the insurance provider’s stock valued at $44,558,000 after purchasing an additional 131,625 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Down 0.1 %

Shares of NASDAQ:CINF opened at $139.96 on Thursday. The company has a market cap of $21.91 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 8.30 and a beta of 0.66. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.75. The firm’s 50-day simple moving average is $139.31 and its 200-day simple moving average is $141.90. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. As a group, equities research analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a $0.87 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a yield of 2.49%. Cincinnati Financial’s dividend payout ratio is presently 23.97%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CINF. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Roth Mkm upped their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

Cincinnati Financial 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.