APG Asset Management N.V. Decreases Stake in Cincinnati Financial Corporation $CINF

APG Asset Management N.V. cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,700 shares of the insurance provider’s stock after selling 6,900 shares during the quarter. APG Asset Management N.V. owned approximately 0.09% of Cincinnati Financial worth $18,284,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in shares of Cincinnati Financial by 39.4% during the first quarter. Smartleaf Asset Management LLC now owns 2,694 shares of the insurance provider’s stock worth $392,000 after buying an additional 761 shares in the last quarter. Bahl & Gaynor Inc. grew its position in shares of Cincinnati Financial by 4.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,169,676 shares of the insurance provider’s stock worth $172,785,000 after buying an additional 49,593 shares in the last quarter. Compound Planning Inc. acquired a new position in shares of Cincinnati Financial during the first quarter worth about $202,000. Norinchukin Bank The grew its position in shares of Cincinnati Financial by 14.6% during the first quarter. Norinchukin Bank The now owns 7,782 shares of the insurance provider’s stock worth $1,150,000 after buying an additional 990 shares in the last quarter. Finally, Kaufman Rossin Wealth LLC acquired a new position in shares of Cincinnati Financial during the first quarter worth about $219,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on CINF. Keefe, Bruyette & Woods boosted their price objective on 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 Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.40.

Cincinnati Financial Price Performance

CINF stock opened at $155.40 on Monday. The business has a 50 day moving average price of $148.96 and a 200 day moving average price of $144.38. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 7.61 and a beta of 0.70. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $161.74. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results 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 firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. Equities research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio is currently 30.18%.

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.