Geode Capital Management LLC Sells 45,605 Shares of Cincinnati Financial Corporation $CINF

Geode Capital Management LLC lowered its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,059,040 shares of the insurance provider’s stock after selling 45,605 shares during the period. Geode Capital Management LLC’s holdings in Cincinnati Financial were worth $601,953,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Cincinnati Financial in the 1st quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Cincinnati Financial during the first quarter valued at approximately $32,000. AlphaQuest LLC increased its holdings in Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after buying an additional 200 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Cincinnati Financial by 51.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the insurance provider’s stock worth $42,000 after buying an additional 96 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $163.90 on Friday. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $168.20. The company has a market cap of $25.57 billion, a PE ratio of 12.19, a P/E/G ratio of 4.27 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.30. The business has a 50-day simple moving average of $157.82 and a two-hundred day simple moving average of $151.98.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, October 27th. The insurance provider reported $2.85 EPS 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 $3.73 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the business earned $1.42 EPS. Cincinnati Financial’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced 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 was Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. Cincinnati Financial’s dividend payout ratio (DPR) is 25.89%.

Insider Buying and Selling

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were acquired at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the purchase, the director owned 58,482 shares in the company, valued at $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Analysts Set New Price Targets

CINF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $171.67.

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.