Assenagon Asset Management S.A. Decreases Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

Assenagon Asset Management S.A. reduced its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 97.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,380 shares of the insurance provider's stock after selling 94,934 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Cincinnati Financial were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CINF. GoalVest Advisory LLC grew its holdings in Cincinnati Financial by 65.4% in the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after purchasing an additional 102 shares during the last quarter. Whipplewood Advisors LLC grew its holdings in Cincinnati Financial by 333.3% in the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock worth $38,000 after purchasing an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Cincinnati Financial by 157.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider's stock worth $48,000 after purchasing an additional 205 shares during the last quarter. Optiver Holding B.V. grew its holdings in Cincinnati Financial by 62.7% in the fourth quarter. Optiver Holding B.V. now owns 358 shares of the insurance provider's stock worth $51,000 after purchasing an additional 138 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Cincinnati Financial in the fourth quarter worth $57,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $147.40.

Cincinnati Financial Price Performance

Shares of CINF opened at $145.70 on Friday. The firm has a market capitalization of $22.77 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 9.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial Corporation has a 1-year low of $113.70 and a 1-year high of $161.75. The company's fifty day moving average price is $143.73 and its 200-day moving average price is $142.57.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.37. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The business's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. On average, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be given a dividend of $0.87 per share. The ex-dividend date is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.39%. Cincinnati Financial's dividend payout ratio is presently 37.95%.

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.

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