Boston Private Wealth LLC Buys New Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Boston Private Wealth LLC bought a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 3rd quarter, Holdings Channel reports. The firm bought 2,076 shares of the insurance provider’s stock, valued at approximately $237,000.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Cincinnati Financial by 0.7% during the second quarter. Vanguard Group Inc. now owns 17,664,929 shares of the insurance provider’s stock valued at $2,060,084,000 after purchasing an additional 126,466 shares during the period. BlackRock Inc. increased its stake in Cincinnati Financial by 2.6% during the 2nd quarter. BlackRock Inc. now owns 11,530,026 shares of the insurance provider’s stock valued at $1,344,630,000 after buying an additional 290,957 shares during the period. Bank of America Corp DE raised its position in shares of Cincinnati Financial by 1.4% during the 2nd quarter. Bank of America Corp DE now owns 3,282,083 shares of the insurance provider’s stock worth $382,756,000 after buying an additional 44,453 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cincinnati Financial by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,678,431 shares of the insurance provider’s stock worth $311,493,000 after acquiring an additional 73,796 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Cincinnati Financial by 11.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,981,990 shares of the insurance provider’s stock worth $231,141,000 after acquiring an additional 200,443 shares during the period. Institutional investors own 66.01% of the company’s stock.

A number of research firms have weighed in on CINF. Royal Bank of Canada downgraded Cincinnati Financial from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $135.00 to $130.00 in a research report on Thursday, December 9th. Zacks Investment Research lowered Cincinnati Financial from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Tuesday, December 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $125.67.

In other news, Director Dirk J. Debbink acquired 855 shares of Cincinnati Financial stock in a transaction on Monday, November 29th. The stock was bought at an average cost of $116.81 per share, with a total value of $99,872.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.22% of the stock is currently owned by insiders.

Cincinnati Financial stock opened at $119.54 on Friday. The firm has a market cap of $19.26 billion, a price-to-earnings ratio of 7.69 and a beta of 0.67. Cincinnati Financial Co. has a 1 year low of $83.56 and a 1 year high of $127.25. The firm’s 50 day moving average price is $117.26 and its two-hundred day moving average price is $118.36. 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 (NASDAQ:CINF) last issued its earnings results on Wednesday, October 27th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.41. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Cincinnati Financial had a return on equity of 8.64% and a net margin of 28.05%. The company’s quarterly revenue was down 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. As a group, equities analysts predict that Cincinnati Financial Co. will post 5.56 EPS 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 paid a $0.63 dividend. The ex-dividend date was Wednesday, December 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.11%. Cincinnati Financial’s dividend payout ratio is currently 16.22%.

Cincinnati Financial 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.

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

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