Kornitzer Capital Management Inc. KS Cuts Stock Position in Cincinnati Financial Corporation $CINF

Kornitzer Capital Management Inc. KS lowered its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 162,953 shares of the insurance provider’s stock after selling 5,049 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.10% of Cincinnati Financial worth $26,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cibc World Market Inc. purchased a new position in shares of Cincinnati Financial in the 3rd quarter valued at $2,511,000. Strs Ohio raised its stake in shares of Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after acquiring an additional 71,378 shares during the period. Western Wealth Management LLC purchased a new position in shares of Cincinnati Financial in the 3rd quarter valued at $1,622,000. Johnson Investment Counsel Inc. raised its stake in shares of Cincinnati Financial by 2.8% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock valued at $222,238,000 after acquiring an additional 37,913 shares during the period. Finally, AE Wealth Management LLC raised its stake in shares of Cincinnati Financial by 1,102.8% in the 3rd quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock valued at $8,063,000 after acquiring an additional 46,757 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CINF. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, April 21st. Bank of America lowered their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Roth Mkm raised their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Cincinnati Financial presently has an average rating of “Buy” and a consensus price target of $178.75.

Cincinnati Financial Price Performance

CINF opened at $162.05 on Friday. The company has a fifty day simple moving average of $162.69 and a 200 day simple moving average of $162.49. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 3.62 and a beta of 0.59. Cincinnati Financial Corporation has a twelve month low of $140.47 and a twelve month high of $174.27. The company has a current ratio of 0.28, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.17. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business earned ($0.24) EPS. Equities research analysts expect that Cincinnati Financial Corporation will post 8.45 EPS for the current fiscal year.

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.