Pacer Advisors Inc. Sells 10,973 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

Pacer Advisors Inc. lessened its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 58.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 7,946 shares of the insurance provider’s stock after selling 10,973 shares during the period. Pacer Advisors Inc.’s holdings in Cincinnati Financial were worth $1,174,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Spire Wealth Management grew its holdings in shares of Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock valued at $26,000 after buying an additional 76 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Cincinnati Financial during the first quarter worth about $30,000. Capital Advisors Ltd. LLC lifted its holdings in shares of Cincinnati Financial by 5,000.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 250 shares in the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Cincinnati Financial by 65.4% during the 1st quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 102 shares in the last quarter. Finally, Whipplewood Advisors LLC grew its position in shares of Cincinnati Financial by 333.3% in the 1st quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 200 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Down 1.9%

Cincinnati Financial stock opened at $149.51 on Thursday. The company has a fifty day simple moving average of $147.99 and a 200 day simple moving average of $142.81. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $161.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The company has a market cap of $23.38 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 9.99 and a beta of 0.76.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.58. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 earnings per share. Research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 23rd were paid a $0.87 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $3.48 annualized dividend and a yield of 2.33%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 30.18%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $150.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Finally, Roth Capital upped their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.20.

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.