Bank of Montreal Can Trims Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Bank of Montreal Can lowered its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,720 shares of the insurance provider’s stock after selling 2,965 shares during the quarter. Bank of Montreal Can’s holdings in Cincinnati Financial were worth $7,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Cincinnati Financial by 1.2% during 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 purchasing an additional 211,402 shares during the last quarter. BlackRock Inc. increased its position in shares of Cincinnati Financial by 1.6% during the 1st quarter. BlackRock Inc. now owns 11,313,105 shares of the insurance provider’s stock valued at $1,538,130,000 after purchasing an additional 175,660 shares during the last quarter. State Street Corp increased its position in shares of Cincinnati Financial by 4.1% during 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 purchasing an additional 360,552 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cincinnati Financial by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,422,692 shares of the insurance provider’s stock valued at $329,390,000 after purchasing an additional 175,968 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Cincinnati Financial by 358.1% during 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 purchasing an additional 1,553,670 shares during the last quarter. Hedge funds and other institutional investors own 64.52% of the company’s stock.

Cincinnati Financial Trading Up 0.7 %

CINF stock opened at $108.80 on Friday. Cincinnati Financial Co. has a 1-year low of $88.66 and a 1-year high of $143.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $17.10 billion, a price-to-earnings ratio of -302.22 and a beta of 0.61. The business has a 50 day simple moving average of $99.43 and a two-hundred day simple moving average of $107.83.

Cincinnati Financial (NASDAQ:CINFGet Rating) last posted its quarterly earnings results on Monday, October 31st. The insurance provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. Cincinnati Financial had a positive return on equity of 7.00% and a negative net margin of 0.43%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company posted $1.28 EPS. The firm’s revenue for the quarter was down 21.1% compared to the same quarter last year. Research analysts anticipate that Cincinnati Financial Co. will post 4.21 EPS for the current fiscal year.

Cincinnati Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 16th will be paid a $0.60 dividend. The ex-dividend date is Thursday, December 15th. This represents a $2.40 annualized dividend and a yield of 2.21%. Cincinnati Financial’s payout ratio is -766.67%.

Analyst Ratings Changes

Several research firms have recently commented on CINF. Raymond James initiated coverage on shares of Cincinnati Financial in a research report on Friday, September 23rd. They set a “market perform” rating for the company. Bank of America initiated coverage on shares of Cincinnati Financial in a report on Tuesday, September 27th. They issued a “neutral” rating and a $92.00 target price for the company. Finally, StockNews.com lowered shares of Cincinnati Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $111.00.

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.

See Also

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

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