Manning & Napier Advisors LLC Trims Stake in Cincinnati Financial Corporation (NASDAQ:CINF)

Manning & Napier Advisors LLC reduced its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,811 shares of the insurance provider's stock after selling 5,218 shares during the quarter. Manning & Napier Advisors LLC's holdings in Cincinnati Financial were worth $5,585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC raised its stake in shares of Cincinnati Financial by 5,000.0% in the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock worth $38,000 after purchasing an additional 250 shares during the last quarter. GoalVest Advisory LLC raised its holdings in shares of Cincinnati Financial by 65.4% during the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 102 shares during the last quarter. Whipplewood Advisors LLC grew its position in Cincinnati Financial by 333.3% in the 1st 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 period. Opal Wealth Advisors LLC bought a new position in shares of Cincinnati Financial during the 1st quarter valued at $47,000. Finally, Canton Hathaway LLC bought a new stake in shares of Cincinnati Financial in the first quarter worth $48,000. Institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CINF. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.40.

Cincinnati Financial Price Performance

Shares of CINF stock traded down $0.55 during trading hours on Tuesday, hitting $146.69. The stock had a trading volume of 532,617 shares, compared to its average volume of 660,221. The stock's 50-day moving average price is $144.30 and its two-hundred day moving average price is $142.23. Cincinnati Financial Corporation has a one year low of $113.70 and a one year high of $161.75. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 9.78 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 (NASDAQ:CINF - Get Free Report) last issued 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. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. The company's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. Equities analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be issued a $0.87 dividend. The ex-dividend date is Monday, June 23rd. This represents a $3.48 annualized dividend and a dividend yield of 2.37%. Cincinnati Financial's payout ratio is 37.95%.

About Cincinnati Financial

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.