CIBC Asset Management Inc Trims Stake in Cincinnati Financial Co. (NASDAQ:CINF)

CIBC Asset Management Inc lowered its holdings in Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 19.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,872 shares of the insurance provider’s stock after selling 7,405 shares during the quarter. CIBC Asset Management Inc’s holdings in Cincinnati Financial were worth $4,197,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in Cincinnati Financial by 14.9% in the first quarter. Parallel Advisors LLC now owns 1,158 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 150 shares during the period. DNB Asset Management AS raised its holdings in shares of Cincinnati Financial by 11.6% in the 1st quarter. DNB Asset Management AS now owns 25,411 shares of the insurance provider’s stock valued at $3,455,000 after buying an additional 2,651 shares during the period. Toronto Dominion Bank raised its holdings in shares of Cincinnati Financial by 16.9% in the 4th quarter. Toronto Dominion Bank now owns 88,376 shares of the insurance provider’s stock valued at $10,069,000 after buying an additional 12,764 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Cincinnati Financial by 49.6% in the 1st quarter. Pacer Advisors Inc. now owns 11,595 shares of the insurance provider’s stock valued at $1,576,000 after buying an additional 3,844 shares during the period. Finally, IFM Investors Pty Ltd raised its holdings in shares of Cincinnati Financial by 14.2% in the 1st quarter. IFM Investors Pty Ltd now owns 23,321 shares of the insurance provider’s stock valued at $3,171,000 after buying an additional 2,900 shares during the period. Hedge funds and other institutional investors own 66.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TheStreet downgraded Cincinnati Financial from a “b” rating to a “c+” rating in a report on Wednesday, July 27th. StockNews.com upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Friday.

Insider Buying and Selling

In related news, Director Dirk J. Debbink bought 410 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average cost of $120.67 per share, with a total value of $49,474.70. Following the purchase, the director now directly owns 43,507 shares of the company’s stock, valued at approximately $5,249,989.69. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cincinnati Financial news, Director Dirk J. Debbink acquired 410 shares of the stock in a transaction dated Friday, May 20th. The stock was acquired at an average cost of $120.67 per share, with a total value of $49,474.70. Following the transaction, the director now owns 43,507 shares in the company, valued at approximately $5,249,989.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Aaron acquired 1,030 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $96.33 per share, with a total value of $99,219.90. Following the completion of the transaction, the director now owns 5,740 shares in the company, valued at approximately $552,934.20. The disclosure for this purchase can be found here. Insiders purchased 1,950 shares of company stock valued at $197,991 in the last three months. 2.95% of the stock is owned by corporate insiders.

Cincinnati Financial Trading Up 1.8 %

CINF opened at $97.26 on Friday. Cincinnati Financial Co. has a 12 month low of $93.41 and a 12 month high of $143.22. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 30.21 and a beta of 0.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.30 and a quick ratio of 0.30. The business has a fifty day moving average price of $114.89 and a 200 day moving average price of $122.86.

Cincinnati Financial (NASDAQ:CINFGet Rating) last released its earnings results on Wednesday, July 27th. The insurance provider reported $0.65 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.40). Cincinnati Financial had a return on equity of 7.45% and a net margin of 7.59%. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the firm earned $1.79 earnings per share. The company’s revenue for the quarter was down 64.3% compared to the same quarter last year. Sell-side analysts expect that Cincinnati Financial Co. will post 5.3 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, June 17th were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, June 16th. This represents a $2.76 annualized dividend and a yield of 2.84%. Cincinnati Financial’s payout ratio is 85.71%.

Cincinnati Financial Profile

(Get Rating)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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.

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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