Comerica Bank Cuts Position in Cincinnati Financial Co. (NASDAQ:CINF)

Comerica Bank lessened its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,089 shares of the insurance provider's stock after selling 2,697 shares during the quarter. Comerica Bank's holdings in Cincinnati Financial were worth $7,629,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Cincinnati Financial by 13.1% in the third quarter. Barclays PLC now owns 534,361 shares of the insurance provider's stock worth $72,736,000 after acquiring an additional 61,801 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Cincinnati Financial during the third quarter valued at $381,000. World Investment Advisors LLC bought a new stake in Cincinnati Financial in the 3rd quarter worth about $546,000. Wilmington Savings Fund Society FSB bought a new position in Cincinnati Financial during the 3rd quarter valued at about $103,000. Finally, Tidal Investments LLC boosted its holdings in shares of Cincinnati Financial by 1.4% during the 3rd quarter. Tidal Investments LLC now owns 5,819 shares of the insurance provider's stock valued at $792,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CINF shares. StockNews.com upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their target price on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a research 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 research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $147.40.

Cincinnati Financial Price Performance

NASDAQ:CINF traded up $0.33 during trading hours on Wednesday, hitting $145.25. 519,873 shares of the stock traded hands, compared to its average volume of 660,885. The company has a market cap of $22.70 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 8.30 and a beta of 0.73. Cincinnati Financial Co. has a 1 year low of $111.92 and a 1 year high of $161.75. The stock has a 50 day moving average price of $139.56 and a 200 day moving average price of $142.65. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

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

Cincinnati Financial Dividend Announcement

The firm 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 yield of 2.40%. Cincinnati Financial's dividend payout ratio is presently 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.