Los Angeles Capital Management LLC Has $71.82 Million Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Los Angeles Capital Management LLC trimmed its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 44.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 527,590 shares of the insurance provider's stock after selling 424,441 shares during the quarter. Los Angeles Capital Management LLC owned about 0.34% of Cincinnati Financial worth $71,816,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Axxcess Wealth Management LLC acquired a new stake in Cincinnati Financial during the third quarter worth approximately $213,000. Covestor Ltd lifted its position in shares of Cincinnati Financial by 27.2% during the 3rd quarter. Covestor Ltd now owns 1,488 shares of the insurance provider's stock valued at $203,000 after acquiring an additional 318 shares during the period. Cowa LLC acquired a new stake in shares of Cincinnati Financial during the 3rd quarter worth $214,000. CWA Asset Management Group LLC bought a new position in shares of Cincinnati Financial in the third quarter worth $307,000. Finally, Capital Performance Advisors LLP acquired a new position in Cincinnati Financial in the third quarter valued at about $169,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF traded up $1.57 during trading on Friday, hitting $148.69. 412,717 shares of the company were exchanged, compared to its average volume of 615,388. Cincinnati Financial Co. has a 1-year low of $98.65 and a 1-year high of $150.96. The company has a market capitalization of $23.24 billion, a P/E ratio of 7.64, a price-to-earnings-growth ratio of 2.84 and a beta of 0.65. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The business's 50 day moving average is $138.14 and its 200-day moving average is $127.00.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company earned $1.66 EPS. Cincinnati Financial's revenue for the quarter was up 21.5% on a year-over-year basis. Equities analysts forecast that Cincinnati Financial Co. will post 6.35 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.18%. Cincinnati Financial's dividend payout ratio is presently 16.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CINF shares. Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Roth Mkm increased their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Bank of America boosted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average target price of $138.57.

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.