NFJ Investment Group LLC Sells 60,400 Shares of Cincinnati Financial Corporation $CINF

Key Points

• NFJ Investment Group LLC has significantly reduced its stake in Cincinnati Financial Corporation by 85.4%, now holding only 10,358 shares after selling 60,400 shares.
• Cincinnati Financial reported earnings per share of $1.97 for the last quarter, exceeding analyst estimates of $1.39, alongside a revenue of $2.48 billion.
• The company recently announced a quarterly dividend of $0.87, representing an annualized dividend yield of 2.3%, with an ex-dividend date of September 22nd.

NFJ Investment Group LLC trimmed its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 85.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,358 shares of the insurance provider's stock after selling 60,400 shares during the period. NFJ Investment Group LLC's holdings in Cincinnati Financial were worth $1,530,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Spire Wealth Management grew its position in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 76 shares during the period. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial in the first quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial in the first quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Cincinnati Financial in the first quarter valued at $32,000. Finally, GoalVest Advisory LLC grew its position in Cincinnati Financial by 65.4% in the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 102 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Trading Up 1.7%

Shares of CINF traded up $2.59 during trading hours on Thursday, hitting $154.90. 84,802 shares of the stock traded hands, compared to its average volume of 664,295. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $161.74. The business has a fifty day moving average of $150.83 and a 200-day moving average of $145.81. The firm has a market capitalization of $24.22 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 7.52 and a beta of 0.72. 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 (NASDAQ:CINF - Get Free Report) last announced 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 return on equity of 7.14% and a net margin of 15.59%.The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CINF. Roth Capital boosted their price objective on 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 boosted their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.40.

Cincinnati Financial Company 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.