Bank of America Corp DE Sells 178,615 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Bank of America Corp DE trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,785,679 shares of the insurance provider's stock after selling 178,615 shares during the quarter. Bank of America Corp DE owned about 1.14% of Cincinnati Financial worth $256,602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 valued at $2,754,399,000 after acquiring an additional 173,417 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 224,033 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 worth $563,323,000 after purchasing an additional 185,705 shares during the period. Northern Trust Corp increased its position in shares of Cincinnati Financial by 10.8% during the 4th quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider's stock valued at $240,297,000 after purchasing an additional 162,714 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Cincinnati Financial during the 4th quarter valued at approximately $223,959,000. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CINF shares. StockNews.com raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Roth Mkm upped their price target on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.40.

Cincinnati Financial Trading Up 0.8 %

Shares of NASDAQ:CINF traded up $1.13 on Friday, hitting $147.80. 503,004 shares of the company's stock were exchanged, compared to its average volume of 663,780. The stock has a market capitalization of $23.10 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 8.30 and a beta of 0.73. Cincinnati Financial Co. has a 12 month low of $111.92 and a 12 month high of $161.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The business's 50 day simple moving average is $139.59 and its two-hundred day simple moving average is $142.83.

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

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be issued a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.35%. Cincinnati Financial's payout ratio is 37.95%.

Cincinnati Financial Company 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.