Assenagon Asset Management S.A. Sells 94,934 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

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

A number of other large investors have also recently bought and sold shares of CINF. Trueblood Wealth Management LLC lifted its stake in shares of Cincinnati Financial by 2.4% in the first quarter. Trueblood Wealth Management LLC now owns 17,701 shares of the insurance provider's stock valued at $2,615,000 after buying an additional 419 shares during the period. SG Americas Securities LLC lifted its stake in shares of Cincinnati Financial by 104.1% in the first quarter. SG Americas Securities LLC now owns 287,363 shares of the insurance provider's stock valued at $42,449,000 after buying an additional 146,595 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cincinnati Financial by 7.0% in the first quarter. GAMMA Investing LLC now owns 5,524 shares of the insurance provider's stock valued at $816,000 after buying an additional 359 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Cincinnati Financial by 5.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,475 shares of the insurance provider's stock valued at $513,000 after buying an additional 177 shares during the period. Finally, Pallas Capital Advisors LLC lifted its stake in Cincinnati Financial by 38.0% during the first quarter. Pallas Capital Advisors LLC now owns 8,826 shares of the insurance provider's stock worth $1,304,000 after purchasing an additional 2,429 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CINF. Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $147.40.

Cincinnati Financial Trading Up 1.2%

CINF stock traded up $1.80 during midday trading on Monday, reaching $147.24. The company's stock had a trading volume of 590,929 shares, compared to its average volume of 660,278. Cincinnati Financial Corporation has a 52 week low of $113.70 and a 52 week high of $161.75. The stock has a market cap of $23.01 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 9.66 and a beta of 0.78. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The business's 50-day simple moving average is $144.02 and its 200-day simple moving average is $142.29.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.61) by $0.37. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The firm had revenue of $2.34 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same period last year, the firm earned $1.72 earnings per share. The business's revenue for the quarter was up 13.2% on a year-over-year basis. As a group, sell-side analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.36%. Cincinnati Financial's payout ratio is presently 37.95%.

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.