Caisse DE Depot ET Placement DU Quebec Decreases Stake in Cincinnati Financial Corporation $CINF

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its holdings in Cincinnati Financial Corporation by 9.9%, selling 62,200 shares in the first quarter, leaving it with approximately 0.36% ownership valued at $83.5 million.
• Recent analyst reports indicate a positive outlook for Cincinnati Financial, with Roth Capital increasing its price target from $160 to $175 and four analysts rating the stock as a "Buy."
• Cincinnati Financial announced a quarterly dividend of $0.87 per share, which will be paid on October 15th, representing an annualized yield of 2.3%.

Caisse DE Depot ET Placement DU Quebec lowered its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 9.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 565,258 shares of the insurance provider's stock after selling 62,200 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.36% of Cincinnati Financial worth $83,500,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. M&T Bank Corp grew its holdings in shares of Cincinnati Financial by 12.7% in the first quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock worth $1,161,000 after acquiring an additional 887 shares during the period. CWA Asset Management Group LLC increased its position in Cincinnati Financial by 4.1% in the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock worth $352,000 after buying an additional 94 shares in the last quarter. OLD Republic International Corp increased its position in Cincinnati Financial by 1.0% in the first quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock worth $58,955,000 after buying an additional 4,000 shares in the last quarter. Merit Financial Group LLC increased its position in Cincinnati Financial by 88.4% in the first quarter. Merit Financial Group LLC now owns 8,047 shares of the insurance provider's stock worth $1,189,000 after buying an additional 3,776 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in Cincinnati Financial by 8.6% in the first quarter. Asset Management One Co. Ltd. now owns 65,356 shares of the insurance provider's stock worth $9,654,000 after buying an additional 5,159 shares in the last quarter. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF traded down $0.61 during mid-day trading on Thursday, reaching $153.40. The company's stock had a trading volume of 466,835 shares, compared to its average volume of 538,462. The firm has a market capitalization of $23.99 billion, a PE ratio of 13.30, a P/E/G ratio of 7.54 and a beta of 0.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a fifty day moving average of $149.58 and a two-hundred day moving average of $144.75. 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 released its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, sell-side analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be given 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 is Monday, September 22nd. Cincinnati Financial's payout ratio is currently 30.18%.

Wall Street Analyst Weigh In

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