Royal Bank of Canada Sells 9,866 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Royal Bank of Canada cut its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,836,523 shares of the insurance provider’s stock after selling 9,866 shares during the period. Royal Bank of Canada owned approximately 1.17% of Cincinnati Financial worth $263,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Cincinnati Financial by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider’s stock worth $2,754,399,000 after acquiring an additional 173,417 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Cincinnati Financial by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider’s stock valued at $863,099,000 after buying an additional 224,033 shares in the last quarter. Geode Capital Management LLC increased its position in Cincinnati Financial by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider’s stock valued at $563,323,000 after buying an additional 185,705 shares in the last quarter. Northern Trust Corp increased its position in Cincinnati Financial by 10.8% in the 4th quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider’s stock valued at $240,297,000 after buying an additional 162,714 shares in the last quarter. Finally, Norges Bank bought a new stake in Cincinnati Financial in the 4th quarter valued at about $223,959,000. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CINF has been the subject of a number of research analyst reports. Roth Mkm boosted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. StockNews.com raised Cincinnati Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods decreased their target price on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.40.

Cincinnati Financial Stock Performance

Shares of CINF opened at $150.86 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The stock has a 50 day moving average price of $140.44 and a two-hundred day moving average price of $143.05. The firm has a market capitalization of $23.58 billion, a P/E ratio of 10.39, a P/E/G ratio of 8.30 and a beta of 0.73. Cincinnati Financial Co. has a 52 week low of $111.92 and a 52 week high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.37. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 EPS. Equities analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Monday, June 23rd. Cincinnati Financial’s dividend payout ratio is currently 37.95%.

Cincinnati Financial Profile

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.