Mediolanum International Funds Ltd Trims Position in Cincinnati Financial Corporation (NASDAQ:CINF)

Mediolanum International Funds Ltd lessened its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 72.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,175 shares of the insurance provider’s stock after selling 8,326 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Cincinnati Financial were worth $462,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Park National Corp OH grew its holdings in shares of Cincinnati Financial by 0.6% during the first quarter. Park National Corp OH now owns 12,686 shares of the insurance provider’s stock worth $1,874,000 after purchasing an additional 72 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 76 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Cincinnati Financial by 0.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider’s stock worth $2,871,000 after purchasing an additional 91 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in shares of Cincinnati Financial by 4.1% during the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider’s stock worth $352,000 after purchasing an additional 94 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. grew its holdings in shares of Cincinnati Financial by 5.2% during the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider’s stock worth $279,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $147.10 on Tuesday. The business has a 50 day moving average of $147.89 and a 200 day moving average of $142.69. The company has a market capitalization of $22.99 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 9.92 and a beta of 0.76. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $161.74. 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) last released its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. Cincinnati Financial’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. On average, sell-side analysts predict 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 was paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd were given a $0.87 dividend. The ex-dividend date was Monday, June 23rd. This represents a $3.48 annualized dividend and a yield of 2.37%. Cincinnati Financial’s payout ratio is currently 37.95%.

Wall Street Analyst Weigh In

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

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.