Man Group plc Trims Position in Cincinnati Financial Co. (NASDAQ:CINF)

Man Group plc lessened its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 29.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,748 shares of the insurance provider's stock after selling 41,100 shares during the quarter. Man Group plc owned about 0.06% of Cincinnati Financial worth $14,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CINF. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Cincinnati Financial during the 4th quarter valued at about $27,000. Y.D. More Investments Ltd grew its holdings in Cincinnati Financial by 121.8% during the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider's stock valued at $28,000 after buying an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Cincinnati Financial by 157.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider's stock valued at $48,000 after buying an additional 205 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Cincinnati Financial during the 4th quarter valued at about $50,000. Finally, Kentucky Trust Co purchased a new position in Cincinnati Financial during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Up 1.0%

Shares of CINF opened at $150.86 on Friday. The firm has a market cap of $23.58 billion, a P/E ratio of 10.39, a P/E/G ratio of 8.30 and a beta of 0.73. The stock has a 50 day simple moving average of $140.44 and a two-hundred day simple moving average of $143.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. Cincinnati Financial Co. has a 1 year low of $111.92 and a 1 year high of $161.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.37. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Cincinnati Financial's revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 earnings per share. On average, analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be given a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 annualized dividend and a yield of 2.31%. Cincinnati Financial's payout ratio is currently 37.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CINF shares. StockNews.com raised Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Roth Mkm boosted their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods cut their price objective on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average price target of $147.40.

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.

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