Parametric Portfolio Associates LLC lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 15.9% during the first quarter, Holdings Channel reports. The institutional investor owned 339,009 shares of the insurance provider’s stock after selling 64,057 shares during the period. Parametric Portfolio Associates LLC’s holdings in Cincinnati Financial were worth $24,500,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CINF. Salem Investment Counselors Inc. purchased a new position in Cincinnati Financial during the third quarter valued at about $108,000. Clarius Group LLC purchased a new position in Cincinnati Financial during the first quarter valued at about $130,000. Fuller & Thaler Asset Management Inc. boosted its position in Cincinnati Financial by 46.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,900 shares of the insurance provider’s stock valued at $143,000 after buying an additional 600 shares in the last quarter. MCF Advisors LLC boosted its position in Cincinnati Financial by 2.4% in the first quarter. MCF Advisors LLC now owns 2,243 shares of the insurance provider’s stock valued at $162,000 after buying an additional 52 shares in the last quarter. Finally, First Manhattan Co. boosted its position in Cincinnati Financial by 36.2% in the first quarter. First Manhattan Co. now owns 2,437 shares of the insurance provider’s stock valued at $183,000 after buying an additional 648 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.
Cincinnati Financial Co. (NASDAQ:CINF) traded up 0.09% on Friday, reaching $69.04. 522,287 shares of the company traded hands. The company has a 50-day moving average price of $70.72 and a 200-day moving average price of $72.74. Cincinnati Financial Co. has a 12 month low of $67.14 and a 12 month high of $79.60. The company has a market capitalization of $11.37 billion, a P/E ratio of 19.01 and a beta of 0.81.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.05. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.37 billion. Cincinnati Financial had a net margin of 10.85% and a return on equity of 7.33%. Cincinnati Financial’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $1.13 EPS. Equities research analysts expect that Cincinnati Financial Co. will post $2.80 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Wednesday, June 21st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.90%. Cincinnati Financial’s dividend payout ratio is presently 54.08%.
Several research firms recently issued reports on CINF. Zacks Investment Research cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. MKM Partners reissued a “buy” rating and set a $90.00 price target on shares of Cincinnati Financial in a report on Friday, February 10th. Finally, Keefe, Bruyette & Woods set a $70.00 price target on shares of Cincinnati Financial and gave the stock a “hold” rating in a report on Wednesday, March 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $81.00.
In related news, Director David P. Osborn purchased 1,925 shares of the company’s stock in a transaction on Monday, May 8th. The shares were bought at an average cost of $70.00 per share, for a total transaction of $134,750.00. Following the transaction, the director now owns 21,542 shares of the company’s stock, valued at $1,507,940. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.22% of the company’s stock.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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