Cincinnati Financial Corporation $CINF Stock: Keybank National Association OH Lowers Position

Keybank National Association OH decreased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 183,360 shares of the insurance provider’s stock after selling 5,997 shares during the period. Keybank National Association OH owned 0.12% of Cincinnati Financial worth $29,222,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CINF. National Pension Service raised its position in shares of Cincinnati Financial by 394.1% in the 2nd quarter. National Pension Service now owns 1,280,676 shares of the insurance provider’s stock worth $237,104,000 after buying an additional 1,021,465 shares during the period. Nykredit A S purchased a new stake in Cincinnati Financial during the second quarter valued at about $29,340,000. Bank of America Corp DE purchased a new stake in Cincinnati Financial during the second quarter valued at about $347,891,000. Legal & General Group Plc purchased a new stake in Cincinnati Financial during the second quarter valued at about $200,331,000. Finally, Envestnet Asset Management Inc. grew its position in Cincinnati Financial by 1,474.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock valued at $415,267,000 after acquiring an additional 2,100,563 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CINF. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Roth Capital boosted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a report on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their target price on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Finally, Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $191.60.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $189.78 on Thursday. The firm’s fifty day simple moving average is $171.93 and its 200 day simple moving average is $169.19. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a twelve month low of $153.40 and a twelve month high of $195.72. The firm has a market capitalization of $29.13 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 3.01 and a beta of 0.48.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.81. Cincinnati Financial had a return on equity of 9.48% and a net margin of 20.07%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the firm earned $2.85 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts expect that Cincinnati Financial Corporation will post 9.21 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were given a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.0%. Cincinnati Financial’s dividend payout ratio is presently 22.05%.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk Debbink bought 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares in the company, valued at $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.94% of the stock is owned by insiders.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.