AEGON ASSET MANAGEMENT UK Plc Decreases Position in Cincinnati Financial Corporation $CINF

Key Points

• AEGON Asset Management UK cut its stake in Cincinnati Financial (CINF) by 16.7% in Q4, selling 86,094 shares and holding 430,542 shares worth about $70.3 million, making CINF its 26th largest position (≈0.8% of the fund).
• Cincinnati Financial beat quarterly expectations with $3.37 EPS vs. $2.86 expected and revenue up 21.8% year-over-year to $3.09 billion, while analysts forecast $8.39 EPS for the fiscal year.
• The company raised its quarterly dividend to $0.94 (annualized $3.76), implying a 2.3% yield and a dividend payout ratio of 24.8%.

AEGON ASSET MANAGEMENT UK Plc lowered its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 430,542 shares of the insurance provider's stock after selling 86,094 shares during the quarter. Cincinnati Financial makes up approximately 0.8% of AEGON ASSET MANAGEMENT UK Plc's portfolio, making the stock its 26th biggest position. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.28% of Cincinnati Financial worth $70,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bison Wealth LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider's stock worth $2,823,000 after acquiring an additional 525 shares during the period. Goldman Sachs Group Inc. grew its holdings in Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock worth $83,889,000 after acquiring an additional 173,343 shares during the period. Federated Hermes Inc. acquired a new position in Cincinnati Financial during the second quarter worth $101,000. Finally, Cerity Partners LLC grew its holdings in Cincinnati Financial by 10.8% during the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider's stock worth $7,115,000 after acquiring an additional 4,674 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Price Performance

CINF stock opened at $164.48 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 52-week low of $132.14 and a 52-week high of $174.27. The stock's 50 day moving average is $162.63 and its two-hundred day moving average is $162.43. The company has a market capitalization of $25.61 billion, a PE ratio of 10.84, a P/E/G ratio of 4.43 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the business earned $3.14 EPS. Cincinnati Financial's revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts predict that Cincinnati Financial Corporation will post 8.39 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th were issued a $0.94 dividend. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial's dividend payout ratio (DPR) is 24.79%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $191.00 to $190.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Bank of America reduced their target price on Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded Cincinnati Financial from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday. Finally, Wall Street Zen downgraded Cincinnati Financial from a "buy" rating to a "hold" rating in a research report on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of "Buy" and an average target price of $174.75.

Cincinnati Financial Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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