UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $187.66 Million Stock Position in Cincinnati Financial Corporation $CINF

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.0% in the second quarter, HoldingsChannel.com reports. The firm owned 1,013,600 shares of the insurance provider’s stock after selling 10,174 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cincinnati Financial were worth $187,658,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Cincinnati Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after acquiring an additional 25,888 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Cincinnati Financial in the 2nd quarter worth about $3,585,000. GQG Partners LLC acquired a new position in shares of Cincinnati Financial in the 2nd quarter valued at about $216,679,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at about $1,231,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Cincinnati Financial during the 1st quarter valued at about $12,002,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $170.39 on Wednesday. The business has a 50-day simple moving average of $177.93 and a 200 day simple moving average of $168.77. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $26.15 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 3.55 and a beta of 0.53.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted $1.97 EPS. On average, research analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is presently 17.74%.

Insider Activity

In other news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the acquisition, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CINF. Roth Capital lifted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Finally, Keefe, Bruyette & Woods cut their target price on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.