Intech Investment Management LLC Sells 4,825 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Intech Investment Management LLC has lowered its stake in Cincinnati Financial Corporation by 22.4%, now holding 16,742 shares valued at approximately $2.47 million.
• Cincinnati Financial reported a quarterly earnings per share (EPS) of $1.97, surpassing analyst expectations of $1.39, with revenue of $2.48 billion for the quarter.
• The company's board announced a quarterly dividend of $0.87 per share, providing an annualized dividend yield of 2.2%, with a payout ratio of 30.18%.

Intech Investment Management LLC reduced its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 22.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,742 shares of the insurance provider's stock after selling 4,825 shares during the period. Intech Investment Management LLC's holdings in Cincinnati Financial were worth $2,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Spire Wealth Management boosted its holdings in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 76 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial in the first quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Cincinnati Financial in the first quarter valued at approximately $32,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in Cincinnati Financial by 5,000.0% in the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 250 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Up 0.9%

Shares of NASDAQ:CINF traded up $1.45 during trading on Thursday, reaching $155.93. 426,081 shares of the stock were exchanged, compared to its average volume of 660,873. 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 $123.01 and a 1-year high of $161.74. The stock has a fifty day moving average of $151.64 and a two-hundred day moving average of $146.27. The firm has a market cap of $24.38 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 7.50 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Cincinnati Financial's revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is presently 30.18%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CINF. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Roth Capital boosted their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average target price of $159.40.

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.