Huntington National Bank Reduces Holdings in Cincinnati Financial Corporation $CINF

Huntington National Bank trimmed its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 209,573 shares of the insurance provider’s stock after selling 619 shares during the quarter. Huntington National Bank’s holdings in Cincinnati Financial were worth $31,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Cincinnati Financial by 0.5% during the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider’s stock worth $2,844,419,000 after buying an additional 87,773 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cincinnati Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock worth $940,130,000 after buying an additional 358,018 shares during the period. Invesco Ltd. boosted its stake in Cincinnati Financial by 2.2% during the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock worth $273,062,000 after buying an additional 40,222 shares during the period. GQG Partners LLC purchased a new position in Cincinnati Financial during the first quarter worth $270,005,000. Finally, Bahl & Gaynor Inc. boosted its stake in Cincinnati Financial by 4.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,169,676 shares of the insurance provider’s stock worth $172,785,000 after buying an additional 49,593 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was bought at an average cost of $153.98 per share, with a total value of $153,980.00. Following the completion of the purchase, the director directly owned 58,482 shares in the company, valued at $9,005,058.36. The trade was a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CINF has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Finally, Roth Capital reissued a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Buy” and an average target price of $167.67.

Cincinnati Financial Stock Down 0.6%

Shares of CINF opened at $153.66 on Tuesday. The firm has a market capitalization of $23.97 billion, a P/E ratio of 11.43, a P/E/G ratio of 4.27 and a beta of 0.72. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $166.90. The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $156.04 and a 200-day moving average price of $150.31.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the firm earned $1.42 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were paid a $0.87 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio is 25.89%.

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.