BI Asset Management Fondsmaeglerselskab A S Cuts Stake in Cincinnati Financial Corporation $CINF

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Cincinnati Financial Corporation by 40.9% during the first quarter, now owning 5,991 shares valued at approximately $885,000.
• Institutional investors, including Korea Investment CORP and Raymond James Financial Inc., significantly increased their stakes in Cincinnati Financial, with Raymond James boosting holdings by 558.8%.
• Cincinnati Financial reported an EPS of $1.97 for the last quarter, surpassing analyst estimates, but had revenue below expectations at $2.48 billion.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 40.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,991 shares of the insurance provider's stock after selling 4,144 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Cincinnati Financial were worth $885,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Cincinnati Financial by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock valued at $2,844,419,000 after purchasing an additional 87,773 shares during the period. Charles Schwab Investment Management Inc. grew its position in Cincinnati Financial by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after purchasing an additional 358,018 shares during the period. Invesco Ltd. grew its position in Cincinnati Financial by 2.2% in the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock valued at $273,062,000 after purchasing an additional 40,222 shares during the period. GQG Partners LLC acquired a new stake in Cincinnati Financial in the 1st quarter valued at $270,005,000. Finally, Northern Trust Corp grew its position in Cincinnati Financial by 10.8% in 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 period. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Stock Down 0.3%

CINF traded down $0.51 during mid-day trading on Thursday, reaching $153.50. 46,414 shares of the stock were exchanged, compared to its average volume of 680,507. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $24.00 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 7.52 and a beta of 0.70. The company has a 50 day moving average price of $149.43 and a two-hundred day moving average price of $144.63. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The firm had revenue of $2.48 billion for 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 business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 EPS. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's payout ratio is 30.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Roth Capital lifted their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $159.40.

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.