Cincinnati Financial Corporation $CINF Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Cincinnati Financial Corporation by 30.7%, selling 3,776 shares and leaving it with 8,515 shares worth approximately $1.26 million.
• In the first quarter, GAMMA Investing LLC significantly boosted its holdings in Cincinnati Financial by 15,698.7%, acquiring over 810,840 shares for a total of $120.54 million.
• Cincinnati Financial reported an earnings per share of$1.97, surpassing analysts' expectations of $1.39, with revenue of $2.48 billion for the quarter, representing a 15.5% increase year-over-year.

Gulf International Bank UK Ltd lessened its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 30.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,515 shares of the insurance provider's stock after selling 3,776 shares during the quarter. Gulf International Bank UK Ltd's holdings in Cincinnati Financial were worth $1,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Cincinnati Financial by 15,698.7% during the 1st quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock valued at $120,540,000 after acquiring an additional 810,840 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cincinnati Financial by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after buying an additional 358,018 shares during the last quarter. Topsail Wealth Management LLC acquired a new position in Cincinnati Financial in the fourth quarter valued at about $47,114,000. Nuveen LLC acquired a new position in Cincinnati Financial in the first quarter valued at about $47,070,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in Cincinnati Financial by 62.6% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock valued at $90,166,000 after buying an additional 241,540 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CINF shares. Roth Capital boosted their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods raised 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's stock. According to data from MarketBeat.com, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF traded up $1.30 during midday trading on Wednesday, hitting $153.68. 227,359 shares of the stock were exchanged, compared to its average volume of 689,848. The stock has a market cap of $24.03 billion, a P/E ratio of 13.32, a PEG ratio of 7.43 and a beta of 0.70. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $161.74. The company has a 50 day moving average price of $148.56 and a 200-day moving average price of $143.97.

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

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.