Cincinnati Financial Corporation $CINF Holdings Trimmed by State Street Corp

State Street Corp reduced its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,515,790 shares of the insurance provider’s stock after selling 154,775 shares during the quarter. State Street Corp owned 0.05% of Cincinnati Financial worth $1,275,440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at about $337,000. FJ Capital Management LLC grew its position in Cincinnati Financial by 97.5% during the first quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider’s stock valued at $4,327,000 after purchasing an additional 14,464 shares in the last quarter. American National Bank & Trust acquired a new position in Cincinnati Financial in the 2nd quarter valued at approximately $506,000. DekaBank Deutsche Girozentrale increased its stake in Cincinnati Financial by 0.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 25,728 shares of the insurance provider’s stock valued at $3,772,000 after buying an additional 210 shares during the period. Finally, Venture Visionary Partners LLC lifted its position in Cincinnati Financial by 204.8% in the 1st quarter. Venture Visionary Partners LLC now owns 56,725 shares of the insurance provider’s stock worth $8,379,000 after buying an additional 38,115 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the acquisition, the director owned 58,482 shares in the company, valued at $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

CINF has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday. Roth Capital reissued a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Buy” and a consensus target price of $171.67.

Cincinnati Financial Stock Up 0.7%

Cincinnati Financial stock opened at $162.62 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $169.86. The firm’s fifty day simple moving average is $161.05 and its 200-day simple moving average is $154.33. The company has a market capitalization of $25.37 billion, a P/E ratio of 12.10, a P/E/G ratio of 4.23 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. Cincinnati Financial’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. Sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial’s dividend payout ratio is currently 25.89%.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It 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.