Elo Mutual Pension Insurance Co Lowers Position in Cincinnati Financial Co. (NASDAQ:CINF)

Elo Mutual Pension Insurance Co decreased its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,129 shares of the insurance provider’s stock after selling 1,208 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Cincinnati Financial were worth $1,551,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH grew its stake in Cincinnati Financial by 1.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock worth $178,845,000 after buying an additional 16,451 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Cincinnati Financial by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after acquiring an additional 187,934 shares during the last quarter. Bahl & Gaynor Inc. raised its position in Cincinnati Financial by 10.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after purchasing an additional 107,081 shares in the last quarter. Boston Trust Walden Corp lifted its stake in Cincinnati Financial by 7.8% during the second quarter. Boston Trust Walden Corp now owns 757,795 shares of the insurance provider’s stock worth $89,496,000 after purchasing an additional 55,033 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Cincinnati Financial by 36.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 679,861 shares of the insurance provider’s stock valued at $70,338,000 after purchasing an additional 180,355 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CINF shares. Roth Mkm lifted their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America lowered their price target on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Stock Down 0.8 %

NASDAQ CINF opened at $134.63 on Friday. The business’s 50-day moving average is $130.65 and its 200 day moving average is $122.20. The stock has a market capitalization of $21.08 billion, a PE ratio of 8.96, a PEG ratio of 2.60 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 1 year low of $96.86 and a 1 year high of $139.34.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is 21.56%.

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.