Cincinnati Financial Corporation $CINF Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its Cincinnati Financial holdings by 12.9% in the first quarter, selling 141,464 shares and retaining 953,636 shares worth approximately $150.1 million. Institutional investors and hedge funds collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, missing the $1.82 consensus estimate, while revenue reached $4.27 billion versus analysts’ $2.71 billion forecast. Analysts expect full-year EPS of $8.67.
• The company paid a quarterly dividend of $0.94 per share, equivalent to an annualized $3.76 and a 2.2% yield. Wall Street’s consensus rating is “Moderate Buy,” with an average price target of $197.60 versus the reported share price of $174.73.

Royal Bank of Canada lessened its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 12.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 953,636 shares of the insurance provider's stock after selling 141,464 shares during the period. Royal Bank of Canada owned 0.62% of Cincinnati Financial worth $150,056,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Cincinnati Financial by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider's stock worth $3,221,579,000 after purchasing an additional 123,110 shares during the last quarter. State Street Corp lifted its stake in Cincinnati Financial by 0.3% in the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider's stock valued at $1,357,825,000 after buying an additional 26,475 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider's stock valued at $1,083,151,000 after buying an additional 97,761 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cincinnati Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock valued at $671,265,000 after buying an additional 25,888 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Cincinnati Financial by 59.4% during the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider's stock worth $331,136,000 after buying an additional 784,584 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

CINF stock opened at $174.73 on Friday. The stock has a market capitalization of $26.82 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 3.75 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 52-week low of $143.87 and a 52-week high of $194.81. The stock's fifty day simple moving average is $174.58 and its 200-day simple moving average is $167.09.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 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 business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the company posted $1.97 earnings per share. Equities research analysts expect that Cincinnati Financial Corporation will post 8.67 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial's dividend payout ratio is currently 17.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Bank of America downgraded shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and cut their target price for the company from $197.00 to $193.00 in a research note on Thursday. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital raised their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $197.60.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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