Martingale Asset Management L P Has $502,000 Stock Position in Cincinnati Financial Corporation $CINF

Key Points

• Martingale Asset Management L P has reduced its stake in Cincinnati Financial Corporation by 34.9%, selling 1,818 shares during the first quarter, leaving them with 3,396 shares valued at approximately $502,000.
• Several institutional investors, including GAMMA Investing LLC and Raymond James Financial Inc., have increased their positions in Cincinnati Financial, indicating strong interest in the stock.
• Cincinnati Financial recently declared a quarterly dividend of $0.87, reflecting an annualized yield of 2.3%, which will be paid to shareholders on October 15th.

Martingale Asset Management L P lessened its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 34.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,396 shares of the insurance provider's stock after selling 1,818 shares during the quarter. Martingale Asset Management L P's holdings in Cincinnati Financial were worth $502,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Venture Visionary Partners LLC increased its holdings in Cincinnati Financial by 204.8% during the 1st quarter. Venture Visionary Partners LLC now owns 56,725 shares of the insurance provider's stock worth $8,379,000 after purchasing an additional 38,115 shares in the last quarter. Credit Agricole S A increased its holdings in Cincinnati Financial by 7.6% during the 1st quarter. Credit Agricole S A now owns 45,416 shares of the insurance provider's stock worth $6,709,000 after purchasing an additional 3,220 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Cincinnati Financial by 3.9% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 27,925 shares of the insurance provider's stock worth $4,125,000 after purchasing an additional 1,052 shares in the last quarter. Korea Investment CORP increased its holdings in Cincinnati Financial by 28.6% during the 1st quarter. Korea Investment CORP now owns 119,628 shares of the insurance provider's stock worth $17,671,000 after purchasing an additional 26,601 shares in the last quarter. Finally, Versor Investments LP bought a new position in Cincinnati Financial during the 1st quarter worth about $879,000. Institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

CINF has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Roth Capital raised their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial currently has an average rating of "Moderate Buy" and a consensus target price of $159.40.

Cincinnati Financial Stock Performance

Cincinnati Financial stock traded down $0.61 during midday trading on Thursday, reaching $153.40. 466,835 shares of the company's stock were exchanged, compared to its average volume of 538,462. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $23.99 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 7.54 and a beta of 0.70. The stock's 50-day simple moving average is $149.58 and its 200 day simple moving average is $144.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS 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 business had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.80 billion. During the same quarter last year, the company posted $1.29 earnings per share. Cincinnati Financial's quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.87 per share. The ex-dividend date is Monday, September 22nd. This represents a $3.48 annualized dividend and a yield of 2.3%. Cincinnati Financial's dividend payout ratio (DPR) is 30.18%.

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.