Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,785,679 shares of the insurance provider’s stock after selling 178,615 shares during the period. Bank of America Corp DE owned about 1.14% of Cincinnati Financial worth $256,602,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Oak Thistle LLC grew its position in shares of Cincinnati Financial by 177.8% during the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after acquiring an additional 5,485 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Cincinnati Financial by 2.7% in the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock valued at $26,019,000 after purchasing an additional 5,097 shares during the period. New York Life Investment Management LLC raised its holdings in shares of Cincinnati Financial by 11.5% during the fourth quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider’s stock valued at $3,322,000 after buying an additional 2,383 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Cincinnati Financial during the fourth quarter worth approximately $4,935,000. Finally, AEGON ASSET MANAGEMENT UK Plc grew its holdings in Cincinnati Financial by 25.0% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 352,458 shares of the insurance provider’s stock worth $50,652,000 after buying an additional 70,408 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CINF. Keefe, Bruyette & Woods reduced their price target on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Roth Mkm upped their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, StockNews.com raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.40.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $146.67 on Friday. The company’s 50-day moving average price is $139.50 and its two-hundred day moving average price is $142.71. The stock has a market cap of $22.93 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 8.30 and a beta of 0.73. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 52 week low of $111.92 and a 52 week high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.37. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. As a group, sell-side analysts anticipate that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial’s dividend payout ratio is 37.95%.

Cincinnati Financial Company Profile

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.