Alliancebernstein L.P. Sells 2,137 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Alliancebernstein L.P. decreased its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 182,309 shares of the insurance provider’s stock after selling 2,137 shares during the period. Alliancebernstein L.P.’s holdings in Cincinnati Financial were worth $26,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC boosted its position in shares of Cincinnati Financial by 6.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 48,564 shares of the insurance provider’s stock valued at $6,979,000 after acquiring an additional 3,119 shares during the last quarter. California Public Employees Retirement System grew its stake in Cincinnati Financial by 33.5% in the 4th quarter. California Public Employees Retirement System now owns 668,341 shares of the insurance provider’s stock worth $96,041,000 after buying an additional 167,898 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Cincinnati Financial by 71.7% in the 4th quarter. Schroder Investment Management Group now owns 30,345 shares of the insurance provider’s stock worth $4,344,000 after buying an additional 12,668 shares during the last quarter. Mechanics Financial Corp raised its position in shares of Cincinnati Financial by 647.0% during the 4th quarter. Mechanics Financial Corp now owns 747 shares of the insurance provider’s stock valued at $107,000 after buying an additional 647 shares in the last quarter. Finally, Allstate Corp bought a new stake in shares of Cincinnati Financial during the 4th quarter worth $701,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $131.69 on Monday. The firm has a fifty day simple moving average of $141.11 and a two-hundred day simple moving average of $143.06. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.75. The company has a market capitalization of $20.62 billion, a PE ratio of 9.07, a P/E/G ratio of 8.30 and a beta of 0.53.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share 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%. Research analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.87 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. This represents a $3.48 annualized dividend and a dividend yield of 2.64%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 23.97%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CINF. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Roth Mkm raised their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $154.20.

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.