CIBC Asset Management Inc Decreases Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

CIBC Asset Management Inc cut its holdings in Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 19.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,872 shares of the insurance provider’s stock after selling 7,405 shares during the quarter. CIBC Asset Management Inc’s holdings in Cincinnati Financial were worth $4,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CINF. State Street Corp raised its stake in shares of Cincinnati Financial by 2.2% in the fourth quarter. State Street Corp now owns 8,759,610 shares of the insurance provider’s stock worth $1,003,403,000 after purchasing an additional 186,138 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cincinnati Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 2,810,464 shares of the insurance provider’s stock worth $319,368,000 after purchasing an additional 50,399 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cincinnati Financial by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,246,724 shares of the insurance provider’s stock worth $255,969,000 after purchasing an additional 86,228 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Cincinnati Financial by 0.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 893,110 shares of the insurance provider’s stock worth $101,752,000 after purchasing an additional 7,219 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Cincinnati Financial by 210.8% in the fourth quarter. Millennium Management LLC now owns 505,893 shares of the insurance provider’s stock worth $57,636,000 after purchasing an additional 343,127 shares during the last quarter. 66.34% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Up 1.8 %

Cincinnati Financial stock opened at $97.26 on Friday. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 30.21 and a beta of 0.54. Cincinnati Financial Co. has a 52 week low of $93.41 and a 52 week high of $143.22. The business’s 50-day moving average price is $114.89 and its 200 day moving average price is $122.86. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.08.

Cincinnati Financial (NASDAQ:CINFGet Rating) last posted its earnings results on Wednesday, July 27th. The insurance provider reported $0.65 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.40). The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $1.96 billion. Cincinnati Financial had a return on equity of 7.45% and a net margin of 7.59%. The firm’s revenue was down 64.3% on a year-over-year basis. During the same period last year, the business earned $1.79 earnings per share. As a group, sell-side analysts anticipate that Cincinnati Financial Co. will post 5.3 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, June 17th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, June 16th. Cincinnati Financial’s payout ratio is currently 85.71%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CINF shares. StockNews.com upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Friday. TheStreet lowered Cincinnati Financial from a “b” rating to a “c+” rating in a report on Wednesday, July 27th.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 410 shares of the company’s stock in a transaction on Friday, May 20th. The shares were bought at an average cost of $120.67 per share, with a total value of $49,474.70. Following the completion of the acquisition, the director now owns 43,507 shares in the company, valued at $5,249,989.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Thomas J. Aaron purchased 1,030 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average cost of $96.33 per share, with a total value of $99,219.90. Following the completion of the purchase, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $552,934.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dirk J. Debbink purchased 410 shares of the stock in a transaction dated Friday, May 20th. The stock was purchased at an average cost of $120.67 per share, for a total transaction of $49,474.70. Following the completion of the purchase, the director now directly owns 43,507 shares of the company’s stock, valued at $5,249,989.69. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,950 shares of company stock valued at $197,991. Company insiders own 2.95% of the company’s stock.

About Cincinnati Financial

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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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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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