Rafferty Asset Management LLC Decreases Holdings in Cincinnati Financial Corporation $CINF

Key Points

• Rafferty Asset Management LLC decreased its stake in Cincinnati Financial Corporation by 7.0%, selling 3,869 shares during the first quarter, leaving them with 51,275 shares valued at $7,574,000.
• Cincinnati Financial recently reported quarterly earnings of $1.97 per share, outperforming analyst expectations, although its revenue of $2.48 billion was below the estimated $2.80 billion.
• The company announced a quarterly dividend of $0.87, reflecting an annual yield of 2.3%, with the payout scheduled for October 15th.

Rafferty Asset Management LLC reduced its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,275 shares of the insurance provider's stock after selling 3,869 shares during the period. Rafferty Asset Management LLC's holdings in Cincinnati Financial were worth $7,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Cincinnati Financial by 0.5% in the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock worth $2,844,419,000 after buying an additional 87,773 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cincinnati Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock worth $940,130,000 after acquiring an additional 358,018 shares in the last quarter. Invesco Ltd. boosted its holdings in Cincinnati Financial by 2.2% in the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock worth $273,062,000 after acquiring an additional 40,222 shares during the period. GQG Partners LLC acquired a new stake in Cincinnati Financial in the first quarter valued at approximately $270,005,000. Finally, Northern Trust Corp grew its position in Cincinnati Financial by 10.8% in the fourth quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider's stock valued at $240,297,000 after acquiring an additional 162,714 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Stock Up 0.3%

CINF stock opened at $154.01 on Thursday. The company has a market capitalization of $24.08 billion, a P/E ratio of 13.36, a PEG ratio of 7.52 and a beta of 0.70. The firm has a 50 day simple moving average of $149.43 and a 200-day simple moving average of $144.63. 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 twelve month low of $123.01 and a twelve month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $1.29 EPS. On average, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's payout ratio is currently 30.18%.

Analyst Ratings Changes

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

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.

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