Royal Bank of Canada Sells 9,866 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Royal Bank of Canada lessened its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,836,523 shares of the insurance provider’s stock after selling 9,866 shares during the period. Royal Bank of Canada’s holdings in Cincinnati Financial were worth $263,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Rafferty Asset Management LLC raised its holdings in shares of Cincinnati Financial by 4.1% in the 4th quarter. Rafferty Asset Management LLC now owns 55,144 shares of the insurance provider’s stock worth $7,924,000 after purchasing an additional 2,174 shares during the period. Point72 Asset Management L.P. raised its holdings in Cincinnati Financial by 20.9% during the 4th quarter. Point72 Asset Management L.P. now owns 113,630 shares of the insurance provider’s stock valued at $16,329,000 after acquiring an additional 19,630 shares during the period. Point72 Hong Kong Ltd bought a new stake in Cincinnati Financial during the 4th quarter valued at $523,000. Quantinno Capital Management LP raised its holdings in Cincinnati Financial by 185.7% during the 4th quarter. Quantinno Capital Management LP now owns 23,448 shares of the insurance provider’s stock valued at $3,370,000 after acquiring an additional 15,241 shares during the period. Finally, Mufg Securities Americas Inc. bought a new stake in Cincinnati Financial during the 4th quarter valued at $332,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CINF. Keefe, Bruyette & Woods lowered their target price on shares of Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. StockNews.com raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Finally, Roth Mkm boosted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Two 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, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target of $147.40.

Cincinnati Financial Trading Up 1.0%

Cincinnati Financial stock opened at $150.86 on Friday. The stock has a market cap of $23.58 billion, a P/E ratio of 10.39, a PEG ratio of 8.30 and a beta of 0.73. Cincinnati Financial Co. has a fifty-two week low of $111.92 and a fifty-two week high of $161.75. The firm’s fifty day moving average price is $140.44 and its 200-day moving average price is $143.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.37. The firm had revenue of $2.34 billion for 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 business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. Equities research analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be issued a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 annualized dividend and a dividend yield of 2.31%. Cincinnati Financial’s payout ratio is currently 37.95%.

Cincinnati Financial 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.