Allstate Corp Has $221,000 Stock Holdings in Cincinnati Financial Corporation $CINF

Key Points

• Allstate Corp significantly reduced its stake in Cincinnati Financial Corporation by 69.3% in the first quarter, owning 1,499 shares worth approximately $221,000 after selling 3,381 shares.
• Cincinnati Financial has been upgraded by analysts, with Roth Capital increasing its price target to $175.00 and four analysts rating it as a Buy, indicating growing confidence in the company's performance.
• The company recently announced a quarterly dividend of $0.87, reflecting an annualized yield of 2.3%, with a payout ratio of 30.18%.

Allstate Corp trimmed its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 69.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,499 shares of the insurance provider's stock after selling 3,381 shares during the period. Allstate Corp's holdings in Cincinnati Financial were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Cincinnati Financial by 0.5% during the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock worth $2,844,419,000 after acquiring an additional 87,773 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock worth $940,130,000 after acquiring an additional 358,018 shares in the last quarter. Invesco Ltd. increased its position in Cincinnati Financial by 2.2% during the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock worth $273,062,000 after buying an additional 40,222 shares during the last quarter. GQG Partners LLC acquired a new position in Cincinnati Financial during the first quarter worth $270,005,000. Finally, Northern Trust Corp increased its position in Cincinnati Financial by 10.8% during the fourth quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider's stock worth $240,297,000 after buying an additional 162,714 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CINF has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Roth Capital increased their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF traded up $0.20 during midday trading on Friday, hitting $153.60. The company's stock had a trading volume of 375,893 shares, compared to its average volume of 518,310. The stock has a market capitalization of $24.02 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 7.51 and a beta of 0.70. The stock's 50 day simple moving average is $149.75 and its 200 day simple moving average is $144.85. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.58. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm's revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

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.