First Citizens Bank & Trust Co. Purchases New Stake in Cincinnati Financial Co. (NASDAQ:CINF)

First Citizens Bank & Trust Co. acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the 1st quarter, Holdings Channel.com reports. The firm acquired 1,678 shares of the insurance provider’s stock, valued at approximately $248,000.

A number of other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors raised its position in Cincinnati Financial by 13.6% during the fourth quarter. Captrust Financial Advisors now owns 17,685 shares of the insurance provider’s stock valued at $2,541,000 after purchasing an additional 2,122 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its stake in Cincinnati Financial by 7.4% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 378,384 shares of the insurance provider’s stock valued at $55,802,000 after buying an additional 25,926 shares in the last quarter. New York Life Investment Management LLC grew its position in Cincinnati Financial by 11.5% in the fourth quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider’s stock valued at $3,322,000 after acquiring an additional 2,383 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Cincinnati Financial during the fourth quarter worth about $4,935,000. Finally, Aviva PLC lifted its holdings in shares of Cincinnati Financial by 68.0% in the fourth quarter. Aviva PLC now owns 9,731 shares of the insurance provider’s stock worth $1,398,000 after acquiring an additional 3,938 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $146.99 on Thursday. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 8.30 and a beta of 0.78. Cincinnati Financial Co. has a twelve month low of $111.92 and a twelve month high of $161.75. The company’s fifty day moving average is $141.81 and its 200 day moving average is $143.11. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.37. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.70 billion. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the company earned $1.72 earnings per share. Sell-side analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

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

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.