Mount Lucas Management LP Buys Shares of 6,664 Cincinnati Financial Corporation (NASDAQ:CINF)

Mount Lucas Management LP bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,664 shares of the insurance provider's stock, valued at approximately $984,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SYM FINANCIAL Corp increased its holdings in shares of Cincinnati Financial by 4.8% in the 1st quarter. SYM FINANCIAL Corp now owns 2,690 shares of the insurance provider's stock worth $397,000 after purchasing an additional 122 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Cincinnati Financial by 7.7% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 128,355 shares of the insurance provider's stock valued at $18,961,000 after buying an additional 9,139 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Cincinnati Financial by 145.1% in the first quarter. Allianz Asset Management GmbH now owns 134,642 shares of the insurance provider's stock worth $19,889,000 after purchasing an additional 79,707 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Cincinnati Financial by 20.1% in the 1st quarter. Lindbrook Capital LLC now owns 3,812 shares of the insurance provider's stock valued at $563,000 after purchasing an additional 638 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Cincinnati Financial by 4.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 12,071 shares of the insurance provider's stock worth $1,783,000 after purchasing an additional 527 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CINF. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $150.00 to $167.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $155.25.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $151.00 on Wednesday. The firm has a 50 day moving average of $147.90 and a 200-day moving average of $142.34. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 1 year low of $115.43 and a 1 year high of $161.75. The stock has a market capitalization of $23.60 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 9.89 and a beta of 0.76.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results 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. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm earned $1.72 EPS. Cincinnati Financial's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 23rd were given a dividend of $0.87 per share. The ex-dividend date was Monday, June 23rd. This represents a $3.48 annualized dividend and a dividend yield of 2.30%. Cincinnati Financial's payout ratio is 37.95%.

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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