BNP Paribas Financial Markets Sells 127,948 Shares of Cincinnati Financial Corporation $CINF

Key Points

• BNP Paribas Financial Markets has reduced its stake in Cincinnati Financial Corporation by 38.7%, selling 127,948 shares during the first quarter, and now owns approximately 0.13% of the company.
• Cincinnati Financial reported $1.97 earnings per share, exceeding the consensus estimate by $0.58, with a revenue of $2.48 billion for the quarter.
• The company recently announced a quarterly dividend of $0.87 per share, with the annualized dividend yield at 2.3% and a payout ratio of 30.18%.

BNP Paribas Financial Markets lessened its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 38.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 202,610 shares of the insurance provider's stock after selling 127,948 shares during the period. BNP Paribas Financial Markets owned 0.13% of Cincinnati Financial worth $29,930,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management raised its stake in Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after buying an additional 76 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Cincinnati Financial during the first quarter worth $26,000. Alpine Bank Wealth Management bought a new position in Cincinnati Financial during the first quarter worth $30,000. GoalVest Advisory LLC raised its stake in Cincinnati Financial by 65.4% during the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after buying an additional 102 shares during the last quarter. Finally, Whipplewood Advisors LLC raised its stake in Cincinnati Financial by 333.3% during the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock worth $38,000 after buying an additional 200 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Down 1.5%

CINF traded down $2.35 during midday trading on Friday, hitting $153.24. The company had a trading volume of 145,244 shares, compared to its average volume of 671,286. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock's 50 day moving average price is $150.39 and its 200 day moving average price is $145.33. The company has a market capitalization of $23.96 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 7.51 and a beta of 0.72. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. On average, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial's payout ratio is presently 30.18%.

Analyst Ratings Changes

Several research firms have weighed in on CINF. Roth Capital lifted their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.40.

About Cincinnati Financial

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.