Cincinnati Financial Co. (NASDAQ:CINF) Position Lowered by Bank of America Corp DE

Bank of America Corp DE decreased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,292,878 shares of the insurance provider’s stock after selling 91,812 shares during the quarter. Bank of America Corp DE’s holdings in Cincinnati Financial were worth $447,700,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC raised its stake in Cincinnati Financial by 14.9% during the first quarter. Parallel Advisors LLC now owns 1,158 shares of the insurance provider’s stock worth $160,000 after acquiring an additional 150 shares during the period. DNB Asset Management AS raised its stake in Cincinnati Financial by 11.6% during the first quarter. DNB Asset Management AS now owns 25,411 shares of the insurance provider’s stock worth $3,455,000 after acquiring an additional 2,651 shares during the period. Pacer Advisors Inc. raised its stake in Cincinnati Financial by 49.6% during the first quarter. Pacer Advisors Inc. now owns 11,595 shares of the insurance provider’s stock worth $1,576,000 after acquiring an additional 3,844 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Cincinnati Financial by 3.9% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 117,063 shares of the insurance provider’s stock worth $15,916,000 after acquiring an additional 4,404 shares during the period. Finally, IFM Investors Pty Ltd raised its stake in Cincinnati Financial by 14.2% during the first quarter. IFM Investors Pty Ltd now owns 23,321 shares of the insurance provider’s stock worth $3,171,000 after acquiring an additional 2,900 shares during the period. Institutional investors own 64.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Cincinnati Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. TheStreet lowered shares of Cincinnati Financial from a “b” rating to a “c+” rating in a research note on Wednesday, July 27th.

Insider Activity at Cincinnati Financial

In related news, Director Thomas J. Aaron acquired 1,030 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average price of $96.33 per share, for a total transaction of $99,219.90. Following the completion of the purchase, the director now directly owns 5,740 shares of the company’s stock, valued at $552,934.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cincinnati Financial news, Director Dirk J. Debbink bought 510 shares of Cincinnati Financial stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average cost of $96.66 per share, for a total transaction of $49,296.60. Following the completion of the acquisition, the director now owns 44,243 shares of the company’s stock, valued at approximately $4,276,528.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Aaron bought 1,030 shares of Cincinnati Financial stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average price of $96.33 per share, with a total value of $99,219.90. Following the completion of the acquisition, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $552,934.20. The disclosure for this purchase can be found here. Company insiders own 2.95% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $97.41 on Monday. Cincinnati Financial Co. has a 52 week low of $93.41 and a 52 week high of $143.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $15.51 billion, a P/E ratio of 30.25 and a beta of 0.54. The firm’s 50 day moving average is $103.24 and its two-hundred day moving average is $118.72.

Cincinnati Financial (NASDAQ:CINFGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The insurance provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.40). Cincinnati Financial had a net margin of 7.59% and a return on equity of 7.45%. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business earned $1.79 EPS. Cincinnati Financial’s revenue was down 64.3% compared to the same quarter last year. Analysts anticipate that Cincinnati Financial Co. will post 5.05 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 16th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.83%. Cincinnati Financial’s dividend payout ratio is presently 85.71%.

About Cincinnati Financial

(Get Rating)

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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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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