Assetmark Inc. cut its holdings in Cincinnati Financial Co. (NASDAQ:CINF – Free Report) by 93.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 251 shares of the insurance provider’s stock after selling 3,324 shares during the period. Assetmark Inc.’s holdings in Cincinnati Financial were worth $28,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of CINF. American Century Companies Inc. boosted its holdings in Cincinnati Financial by 14.4% in the 1st quarter. American Century Companies Inc. now owns 12,234 shares of the insurance provider’s stock worth $1,663,000 after buying an additional 1,536 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Cincinnati Financial during the 1st quarter valued at $779,000. Cibc World Market Inc. purchased a new position in shares of Cincinnati Financial during the 1st quarter valued at $713,000. Blair William & Co. IL grew its position in shares of Cincinnati Financial by 12.1% during the 1st quarter. Blair William & Co. IL now owns 3,319 shares of the insurance provider’s stock valued at $451,000 after purchasing an additional 357 shares in the last quarter. Finally, Aviva PLC grew its position in shares of Cincinnati Financial by 56.5% during the 1st quarter. Aviva PLC now owns 92,169 shares of the insurance provider’s stock valued at $12,531,000 after purchasing an additional 33,270 shares in the last quarter. 65.51% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
CINF has been the subject of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Cincinnati Financial from $113.00 to $117.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Royal Bank of Canada cut their target price on shares of Cincinnati Financial from $125.00 to $118.00 in a research report on Monday, May 1st. StockNews.com initiated coverage on shares of Cincinnati Financial in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating in a research report on Monday, July 10th. Finally, TheStreet upgraded shares of Cincinnati Financial from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $117.50.
Cincinnati Financial Stock Performance
Cincinnati Financial stock opened at $105.63 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $16.57 billion, a PE ratio of 12.35, a P/E/G ratio of 1.25 and a beta of 0.60. The firm has a fifty day simple moving average of $101.77 and a two-hundred day simple moving average of $107.65. Cincinnati Financial Co. has a twelve month low of $88.66 and a twelve month high of $130.66.
Insiders Place Their Bets
In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction on Thursday, May 25th. The stock was acquired at an average cost of $98.39 per share, with a total value of $98,390.00. Following the completion of the purchase, the director now directly owns 47,960 shares of the company’s stock, valued at approximately $4,718,784.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.84% of the stock is currently owned by insiders.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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.
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