Cincinnati Financial Corporation (NASDAQ:CINF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 936,660 shares of the insurance provider's stock after selling 93,357 shares during the period. Bank of New York Mellon Corp owned approximately 0.60% of Cincinnati Financial worth $138,363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC boosted its position in shares of Cincinnati Financial by 4.1% during the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after buying an additional 94 shares during the period. Merit Financial Group LLC raised its stake in shares of Cincinnati Financial by 88.4% during the first quarter. Merit Financial Group LLC now owns 8,047 shares of the insurance provider's stock valued at $1,189,000 after acquiring an additional 3,776 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Cincinnati Financial by 8.6% during the first quarter. Asset Management One Co. Ltd. now owns 65,356 shares of the insurance provider's stock valued at $9,654,000 after acquiring an additional 5,159 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Cincinnati Financial by 14.7% during the first quarter. Sequoia Financial Advisors LLC now owns 3,391 shares of the insurance provider's stock valued at $501,000 after acquiring an additional 434 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Cincinnati Financial by 13.6% during the fourth quarter. Captrust Financial Advisors now owns 17,685 shares of the insurance provider's stock valued at $2,541,000 after acquiring an additional 2,122 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock traded up $1.14 during trading hours on Thursday, reaching $147.85. The stock had a trading volume of 456,473 shares, compared to its average volume of 652,492. The stock's 50 day moving average is $147.39 and its 200 day moving average is $142.16. The firm has a market capitalization of $23.11 billion, a PE ratio of 16.12, a PEG ratio of 9.74 and a beta of 0.76. Cincinnati Financial Corporation has a twelve month low of $115.43 and a twelve month high of $161.75. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.61) by $0.37. The business 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 13.19% and a return on equity of 6.55%. The company's 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 earnings per share. Equities analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Wall Street Analyst Weigh In

CINF has been the subject of several research analyst reports. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $150.00 to $167.00 and gave the company an "outperform" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $155.25.

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.