OLD National Bancorp IN Trims Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

OLD National Bancorp IN trimmed its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 26.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,955 shares of the insurance provider’s stock after selling 2,885 shares during the quarter. OLD National Bancorp IN’s holdings in Cincinnati Financial Corporation were worth $609,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new stake in Cincinnati Financial Corporation in the third quarter valued at $1,299,000. Korea Investment CORP raised its position in shares of Cincinnati Financial Corporation by 1,033.1% in the third quarter. Korea Investment CORP now owns 16,452 shares of the insurance provider’s stock worth $1,260,000 after acquiring an additional 15,000 shares during the period. Aperio Group LLC raised its position in shares of Cincinnati Financial Corporation by 3.7% in the third quarter. Aperio Group LLC now owns 43,007 shares of the insurance provider’s stock worth $3,293,000 after acquiring an additional 1,536 shares during the period. Community Financial Services Group LLC raised its position in shares of Cincinnati Financial Corporation by 5.4% in the third quarter. Community Financial Services Group LLC now owns 29,993 shares of the insurance provider’s stock worth $2,297,000 after acquiring an additional 1,525 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Cincinnati Financial Corporation by 2.7% in the third quarter. First Trust Advisors LP now owns 417,407 shares of the insurance provider’s stock worth $31,961,000 after acquiring an additional 11,065 shares during the period. 62.74% of the stock is currently owned by institutional investors.

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Shares of Cincinnati Financial Corporation (NASDAQ:CINF) opened at $73.40 on Friday. Cincinnati Financial Corporation has a one year low of $68.24 and a one year high of $81.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $11,993.65, a PE ratio of 28.56 and a beta of 0.91.

Cincinnati Financial Corporation (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Cincinnati Financial Corporation had a net margin of 8.93% and a return on equity of 5.85%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. equities analysts expect that Cincinnati Financial Corporation will post 2.65 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 22nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.72%. Cincinnati Financial Corporation’s payout ratio is currently 66.23%.

CINF has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Cincinnati Financial Corporation from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, September 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $70.00 price objective on shares of Cincinnati Financial Corporation in a research report on Friday, August 18th. Finally, BidaskClub upgraded shares of Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $79.25.

Cincinnati Financial Corporation Company Profile

Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.

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

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