Bank of America Corp DE Has $256.60 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Bank of America Corp DE lowered its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 9.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,785,679 shares of the insurance provider’s stock after selling 178,615 shares during the period. Bank of America Corp DE’s holdings in Cincinnati Financial were worth $256,602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CINF. BNP Paribas Financial Markets increased its stake in Cincinnati Financial by 27.2% in the 4th quarter. BNP Paribas Financial Markets now owns 330,558 shares of the insurance provider’s stock valued at $47,501,000 after buying an additional 70,658 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Cincinnati Financial by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 103,813 shares of the insurance provider’s stock worth $14,933,000 after acquiring an additional 7,250 shares during the last quarter. AXA S.A. raised its holdings in shares of Cincinnati Financial by 338.4% during the fourth quarter. AXA S.A. now owns 17,147 shares of the insurance provider’s stock worth $2,464,000 after acquiring an additional 13,236 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Cincinnati Financial by 12.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 79,195 shares of the insurance provider’s stock valued at $11,380,000 after purchasing an additional 9,036 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake 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 purchasing an additional 241,540 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 1.0 %

Shares of CINF stock opened at $146.67 on Friday. The stock’s 50 day simple moving average is $139.50 and its 200 day simple moving average is $142.71. Cincinnati Financial Co. has a twelve month low of $111.92 and a twelve month high of $161.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The company has a market capitalization of $22.93 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 8.30 and a beta of 0.73.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, April 28th. The insurance provider reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.37. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm posted $1.72 earnings per share. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, research analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial’s dividend payout ratio is currently 37.95%.

Analysts Set New Price Targets

CINF has been the subject of several research reports. StockNews.com upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their target price on shares of Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Roth Mkm increased their price target 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average target price of $147.40.

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.