Verition Fund Management LLC Decreases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Verition Fund Management LLC trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 11.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,732 shares of the insurance provider's stock after selling 60,702 shares during the period. Cincinnati Financial makes up about 0.3% of Verition Fund Management LLC's holdings, making the stock its 19th biggest position. Verition Fund Management LLC owned approximately 0.29% of Cincinnati Financial worth $62,443,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider's stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Cincinnati Financial by 1.1% during 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 acquiring an additional 16,451 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider's stock worth $159,360,000 after acquiring an additional 187,934 shares during the period. Bahl & Gaynor Inc. raised its holdings 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 worth $131,739,000 after purchasing an additional 107,081 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Cincinnati Financial by 39.4% during the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider's stock worth $115,758,000 after purchasing an additional 277,550 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CINF has been the topic of a number of research reports. Bank of America increased their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.57.

Cincinnati Financial Trading Down 0.2 %

CINF stock traded down $0.33 during midday trading on Friday, hitting $159.83. The stock had a trading volume of 361,209 shares, compared to its average volume of 691,488. The company's 50-day moving average price is $143.65 and its 200 day moving average price is $130.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $24.98 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 3.06 and a beta of 0.65. Cincinnati Financial Co. has a 12-month low of $100.31 and a 12-month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the prior year, the firm earned $1.66 EPS. Cincinnati Financial's revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities research analysts predict that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.81 per share. The ex-dividend date is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.03%. Cincinnati Financial's payout ratio is currently 16.65%.

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.