UMB Bank n.a. cut its stake in Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 16.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,974 shares of the insurance provider's stock after selling 1,386 shares during the quarter. UMB Bank n.a.'s holdings in Cincinnati Financial were worth $830,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of CINF. First Trust Advisors LP increased its stake in shares of Cincinnati Financial by 358.1% in the 1st quarter. First Trust Advisors LP now owns 1,987,502 shares of the insurance provider's stock valued at $270,221,000 after acquiring an additional 1,553,670 shares during the last quarter. State Street Corp increased its stake in shares of Cincinnati Financial by 4.1% in the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider's stock valued at $1,246,056,000 after acquiring an additional 360,552 shares during the last quarter. Millennium Management LLC increased its stake in shares of Cincinnati Financial by 210.8% in the 4th quarter. Millennium Management LLC now owns 505,893 shares of the insurance provider's stock valued at $57,636,000 after acquiring an additional 343,127 shares during the last quarter. Cassady Schiller Wealth Management LLC increased its stake in shares of Cincinnati Financial by 5,479.0% in the 1st quarter. Cassady Schiller Wealth Management LLC now owns 330,335 shares of the insurance provider's stock valued at $44,912,000 after acquiring an additional 324,414 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Cincinnati Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider's stock valued at $2,453,379,000 after acquiring an additional 211,402 shares during the last quarter. 64.52% of the stock is owned by institutional investors.
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Wall Street Analysts Forecast Growth
CINF has been the subject of a number of research reports. Bank of America initiated coverage on Cincinnati Financial in a research note on Tuesday, September 27th. They set a "neutral" rating and a $92.00 target price for the company. TheStreet cut Cincinnati Financial from a "b" rating to a "c+" rating in a research note on Wednesday, July 27th. StockNews.com cut Cincinnati Financial from a "hold" rating to a "sell" rating in a research note on Tuesday, August 23rd. Finally, Raymond James initiated coverage on Cincinnati Financial in a research note on Friday, September 23rd. They set a "market perform" rating for the company. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $111.00.
Cincinnati Financial Trading Down 2.5 %
NASDAQ:CINF opened at $89.57 on Monday. Cincinnati Financial Co. has a twelve month low of $88.66 and a twelve month high of $143.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $99.32 and a two-hundred day moving average price of $116.44. The company has a market cap of $14.26 billion, a P/E ratio of 27.82 and a beta of 0.54.
Cincinnati Financial (NASDAQ:CINF – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The insurance provider reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.40). Cincinnati Financial had a return on equity of 7.45% and a net margin of 7.59%. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company earned $1.79 EPS. The company's revenue was down 64.3% compared to the same quarter last year. As a group, analysts expect that Cincinnati Financial Co. will post 4.81 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 16th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, September 15th. Cincinnati Financial's dividend payout ratio (DPR) is currently 85.71%.
Insiders Place Their Bets
In related news, Director Thomas J. Aaron acquired 1,030 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $96.33 per share, with a total value of $99,219.90. Following the acquisition, the director now owns 5,740 shares in the company, valued at approximately $552,934.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dirk J. Debbink acquired 510 shares of the business's stock in a transaction dated Friday, July 29th. The stock was bought at an average price of $96.66 per share, with a total value of $49,296.60. Following the acquisition, the director now owns 44,243 shares in the company, valued at approximately $4,276,528.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Aaron acquired 1,030 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $96.33 per share, with a total value of $99,219.90. Following the acquisition, the director now owns 5,740 shares in the company, valued at approximately $552,934.20. The disclosure for this purchase can be found here. 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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