Cincinnati Financial Co. (NASDAQ:CINF) Shares Acquired by BlackRock Inc.

BlackRock Inc. lifted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,541,195 shares of the insurance provider’s stock after buying an additional 11,169 shares during the quarter. BlackRock Inc. owned approximately 0.07% of Cincinnati Financial worth $1,318,234,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. raised its stake in shares of Cincinnati Financial by 7.8% during the 3rd quarter. Pinebridge Investments L.P. now owns 121,003 shares of the insurance provider’s stock worth $13,821,000 after buying an additional 8,790 shares during the last quarter. Principal Financial Group Inc. increased its position in Cincinnati Financial by 6.4% during the 3rd quarter. Principal Financial Group Inc. now owns 209,449 shares of the insurance provider’s stock worth $23,923,000 after purchasing an additional 12,513 shares in the last quarter. Boston Private Wealth LLC purchased a new stake in Cincinnati Financial during the 3rd quarter worth about $237,000. First Horizon Advisors Inc. increased its position in Cincinnati Financial by 43.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 501 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 151 shares in the last quarter. Finally, Valmark Advisers Inc. increased its position in Cincinnati Financial by 16.1% during the 3rd quarter. Valmark Advisers Inc. now owns 6,712 shares of the insurance provider’s stock worth $767,000 after purchasing an additional 932 shares in the last quarter. 66.01% of the stock is owned by institutional investors and hedge funds.

In other Cincinnati Financial news, Director Dirk J. Debbink bought 855 shares of the business’s stock in a transaction on Monday, November 29th. The shares were bought at an average cost of $116.81 per share, with a total value of $99,872.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.22% of the company’s stock.

A number of analysts recently commented on the company. Royal Bank of Canada cut Cincinnati Financial from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $135.00 to $130.00 in a research report on Thursday, December 9th. Zacks Investment Research cut Cincinnati Financial from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Tuesday, December 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.67.

Cincinnati Financial stock opened at $119.54 on Friday. The stock’s 50 day moving average price is $117.26 and its 200 day moving average price is $118.36. The firm has a market capitalization of $19.26 billion, a PE ratio of 7.69 and a beta of 0.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Co. has a one year low of $83.56 and a one year high of $127.25.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, October 27th. The insurance provider reported $1.28 EPS for the quarter, topping the consensus estimate of $0.87 by $0.41. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.73 billion. Cincinnati Financial had a return on equity of 8.64% and a net margin of 28.05%. Cincinnati Financial’s revenue for the quarter was down 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. On average, analysts forecast that Cincinnati Financial Co. will post 5.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Thursday, December 16th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Wednesday, December 15th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.22%.

Cincinnati Financial Company Profile

Cincinnati Financial Corp. provides property casualty and life insurance services. It operates through the following segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment includes commercial casualty, commercial property, commercial auto, worker’s compensation, and other commercial lines insurance.

Further Reading: Resistance Level

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

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