Royal Bank of Canada Cuts Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Royal Bank of Canada cut its holdings in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,836,523 shares of the insurance provider's stock after selling 9,866 shares during the period. Royal Bank of Canada owned approximately 1.17% of Cincinnati Financial worth $263,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CINF. Captrust Financial Advisors grew its stake in Cincinnati Financial by 13.6% during the fourth quarter. Captrust Financial Advisors now owns 17,685 shares of the insurance provider's stock worth $2,541,000 after purchasing an additional 2,122 shares during the period. New York Life Investment Management LLC boosted its holdings in shares of Cincinnati Financial by 11.5% during the 4th quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider's stock worth $3,322,000 after buying an additional 2,383 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $4,935,000. AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Cincinnati Financial by 25.0% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 352,458 shares of the insurance provider's stock valued at $50,652,000 after acquiring an additional 70,408 shares in the last quarter. Finally, Aviva PLC lifted its position in shares of Cincinnati Financial by 68.0% during the 4th quarter. Aviva PLC now owns 9,731 shares of the insurance provider's stock valued at $1,398,000 after acquiring an additional 3,938 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CINF. Roth Mkm increased their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods dropped their price objective on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.40.

Cincinnati Financial Stock Up 0.1%

Shares of CINF traded up $0.10 during trading hours on Friday, reaching $145.40. The stock had a trading volume of 61,146 shares, compared to its average volume of 663,171. The firm has a 50-day simple moving average of $140.80 and a 200 day simple moving average of $143.26. Cincinnati Financial Co. has a 12 month low of $111.92 and a 12 month high of $161.75. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 8.30 and a beta of 0.73.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company posted $1.72 earnings per share. The business's revenue was up 13.2% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be issued a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.39%. Cincinnati Financial's dividend payout ratio is presently 37.95%.

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.