Cincinnati Financial Corporation $CINF Stock Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK cut its Cincinnati Financial stake by 34.2% in the third quarter, selling 156,839 shares; it retained 302,112 shares valued at about $48.1 million.
• Cincinnati Financial reported quarterly earnings of $2.86 per share, beating the $2.05 consensus estimate, while revenue of $3.05 billion also exceeded expectations and rose 4.8% year over year.
• The insurer’s quarterly dividend was $0.94 per share, equivalent to a 2.0% annualized yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $191.60.

AEGON ASSET MANAGEMENT UK Plc lessened its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 34.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 302,112 shares of the insurance provider's stock after selling 156,839 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned 0.20% of Cincinnati Financial worth $48,148,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Keating Financial Advisory Services Inc. acquired a new position in shares of Cincinnati Financial in the 2nd quarter valued at about $27,000. Covestor Ltd boosted its holdings in Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock worth $31,000 after buying an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial during the first quarter valued at $34,000. Elevation Wealth Partners LLC increased its stake in shares of Cincinnati Financial by 230.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Finally, GK Wealth Management LLC acquired a new position in Cincinnati Financial in the 3rd quarter worth about $36,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Up 0.4%

Cincinnati Financial stock opened at $186.18 on Tuesday. Cincinnati Financial Corporation has a twelve month low of $153.40 and a twelve month high of $195.72. The firm has a market capitalization of $28.58 billion, a P/E ratio of 19.52, a P/E/G ratio of 3.00 and a beta of 0.48. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.05. The stock's fifty day simple moving average is $171.14 and its 200-day simple moving average is $168.87.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.81. The firm had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $2.64 billion. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.85 earnings per share. As a group, equities analysts expect that Cincinnati Financial Corporation will post 9.21 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio (DPR) is currently 22.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CINF shares. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler boosted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Roth Capital upped their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Cincinnati Financial from $190.00 to $171.00 and set a "market perform" rating on the stock in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $191.60.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average cost of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director directly owned 62,059 shares of the company's stock, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.94% of the stock is currently owned by company insiders.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals.

The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.

Cincinnati Financial serves customers across the United States through its network of independent agents.

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