Alliancebernstein L.P. Lowers Position in Cincinnati Financial Co. (NASDAQ:CINF)

Alliancebernstein L.P. lowered its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,309 shares of the insurance provider's stock after selling 2,137 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of Cincinnati Financial worth $26,198,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CINF. Vanguard Group Inc. lifted its position in shares of Cincinnati Financial by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider's stock worth $2,754,399,000 after purchasing an additional 173,417 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cincinnati Financial by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock worth $863,099,000 after buying an additional 224,033 shares during the period. Norges Bank bought a new stake in Cincinnati Financial during the 4th quarter valued at $223,959,000. Johnson Investment Counsel Inc. increased its holdings in shares of Cincinnati Financial by 0.7% in the 4th quarter. Johnson Investment Counsel Inc. now owns 1,332,689 shares of the insurance provider's stock valued at $191,507,000 after acquiring an additional 8,736 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Cincinnati Financial by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,030,017 shares of the insurance provider's stock worth $148,013,000 after acquiring an additional 27,301 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of recent research reports. Roth Mkm boosted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. StockNews.com lowered shares of Cincinnati Financial from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $147.40.

Cincinnati Financial Stock Performance

NASDAQ:CINF traded down $0.51 during trading hours on Friday, hitting $131.09. 841,985 shares of the company were exchanged, compared to its average volume of 674,760. The company's 50 day moving average price is $140.02 and its 200-day moving average price is $142.70. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 8.30 and a beta of 0.53. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. As a group, research analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.87 per share. The ex-dividend date is Monday, March 24th. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.65%. Cincinnati Financial's payout ratio is currently 23.97%.

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.