Cincinnati Financial Corporation $CINF Shares Sold by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors reduced its Cincinnati Financial position by 21.6% in the third quarter, selling 10,360 shares and retaining 37,507 shares worth approximately $6.0 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial shares opened at $176.30, with the stock trading between a 52-week low of $150.00 and high of $194.81. The company recently reported quarterly EPS of $1.43, below analyst expectations of $1.82.
• The insurer paid a quarterly dividend of $0.94, equivalent to an annualized $3.76 dividend and a 2.1% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $191.60.

Nisa Investment Advisors LLC reduced its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 21.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 37,507 shares of the insurance provider's stock after selling 10,360 shares during the quarter. Nisa Investment Advisors LLC's holdings in Cincinnati Financial were worth $6,013,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. State Street Corp increased its position in Cincinnati Financial by 225.5% during the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider's stock worth $4,993,976,000 after purchasing an additional 18,686,673 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Cincinnati Financial by 1,474.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider's stock valued at $415,267,000 after acquiring an additional 2,100,563 shares during the period. Bank of America Corp DE purchased a new stake in Cincinnati Financial during the second quarter worth $347,891,000. First Trust Advisors LP increased its position in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider's stock valued at $331,136,000 after buying an additional 784,584 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Cincinnati Financial in the third quarter valued at $248,705,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Down 1.1%

Cincinnati Financial stock opened at $176.30 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The firm's 50-day moving average is $168.31 and its 200-day moving average is $170.17. Cincinnati Financial Corporation has a 1 year low of $150.00 and a 1 year high of $194.81. The company has a market cap of $27.06 billion, a P/E ratio of 18.28, a PEG ratio of 3.00 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the firm posted $1.97 EPS. On average, equities analysts expect that Cincinnati Financial Corporation will post 8.44 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were issued a $0.94 dividend. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.1%. Cincinnati Financial's dividend payout ratio (DPR) is 17.74%.

Analysts Set New Price Targets

CINF has been the subject of a number of analyst reports. Weiss Ratings cut Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a report on Thursday, October 8th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital raised their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Bank of America cut Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $190.00 to $171.00 and set a "market perform" rating for the company in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.60.

Insider Activity

In related news, Director Dirk Debbink acquired 1,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the acquisition, the director directly owned 62,059 shares of the company's stock, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.94% of the stock is owned by company insiders.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company's principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.

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