World Asset Management Inc reduced its position in shares of Cincinnati Financial Corp. (NASDAQ:CINF) by 20.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,874 shares of the company’s stock after selling 5,150 shares during the period. World Asset Management Inc’s holdings in Cincinnati Financial Corp. were worth $1,499,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of CINF. Royal Bank of Canada raised its stake in shares of Cincinnati Financial Corp. by 2.3% in the second quarter. Royal Bank of Canada now owns 1,754,654 shares of the company’s stock worth $131,405,000 after buying an additional 40,179 shares in the last quarter. National Pension Service raised its stake in shares of Cincinnati Financial Corp. by 9.5% in the third quarter. National Pension Service now owns 137,620 shares of the company’s stock worth $10,379,000 after buying an additional 11,959 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Cincinnati Financial Corp. during the second quarter worth about $13,230,000. First Financial Bank N.A. Trust Division raised its stake in shares of Cincinnati Financial Corp. by 9.9% in the third quarter. First Financial Bank N.A. Trust Division now owns 202,181 shares of the company’s stock worth $15,249,000 after buying an additional 18,263 shares in the last quarter. Finally, Brookstone Capital Management raised its stake in shares of Cincinnati Financial Corp. by 8.2% in the third quarter. Brookstone Capital Management now owns 56,164 shares of the company’s stock worth $4,236,000 after buying an additional 4,272 shares in the last quarter. Institutional investors and hedge funds own 60.38% of the company’s stock.
Cincinnati Financial Corp. (NASDAQ:CINF) traded down 0.92% during trading on Thursday, reaching $69.89. The company’s stock had a trading volume of 628,041 shares. The company has a market capitalization of $11.51 billion, a PE ratio of 17.97 and a beta of 0.84. The company has a 50 day moving average price of $75.76 and a 200-day moving average price of $74.93. Cincinnati Financial Corp. has a 52 week low of $53.89 and a 52 week high of $79.60.
Cincinnati Financial Corp. (NASDAQ:CINF) last issued its earnings results on Tuesday, October 25th. The company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.08. Cincinnati Financial Corp. had a return on equity of 8.34% and a net margin of 11.98%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $1.04 earnings per share. Equities research analysts anticipate that Cincinnati Financial Corp. will post $2.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Wednesday, December 21st were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Monday, December 19th. Cincinnati Financial Corp.’s payout ratio is currently 49.36%.
A number of analysts have recently issued reports on the company. Langen Mcalenn reaffirmed a “neutral” rating on shares of Cincinnati Financial Corp. in a research note on Thursday, December 22nd. Janney Montgomery Scott began coverage on Cincinnati Financial Corp. in a research note on Thursday, December 22nd. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised Cincinnati Financial Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, November 8th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $78.67.
In other Cincinnati Financial Corp. news, insider Donald J. Doyle, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $76.69, for a total value of $230,070.00. Following the transaction, the insider now directly owns 27,766 shares of the company’s stock, valued at $2,129,374.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Osborn acquired 500 shares of the business’s stock in a transaction on Friday, November 4th. The stock was bought at an average cost of $68.44 per share, for a total transaction of $34,220.00. Following the completion of the transaction, the director now directly owns 19,845 shares of the company’s stock, valued at $1,358,191.80. The disclosure for this purchase can be found here. 9.22% of the stock is currently owned by company insiders.
Cincinnati Financial Corp. Company Profile
Cincinnati Financial Corporation is an insurance holding company. The Company is engaged in the business of property casualty insurance marketed through independent insurance agencies in over 40 states. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, Life insurance and Investments.
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