Aperio Group LLC lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 7.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 45,737 shares of the insurance provider’s stock after selling 3,818 shares during the period. Aperio Group LLC’s holdings in Cincinnati Financial were worth $3,396,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Cincinnati Financial by 0.5% during the 4th quarter. BlackRock Inc. now owns 13,354,092 shares of the insurance provider’s stock valued at $1,001,157,000 after purchasing an additional 65,896 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cincinnati Financial by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,719,014 shares of the insurance provider’s stock worth $128,622,000 after buying an additional 46,011 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cincinnati Financial by 12.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,321,179 shares of the insurance provider’s stock worth $99,048,000 after buying an additional 144,745 shares in the last quarter. Fairpointe Capital LLC lifted its position in shares of Cincinnati Financial by 4.2% during the 4th quarter. Fairpointe Capital LLC now owns 836,100 shares of the insurance provider’s stock worth $62,682,000 after buying an additional 33,599 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of Cincinnati Financial by 20.7% during the 4th quarter. Guggenheim Capital LLC now owns 663,458 shares of the insurance provider’s stock worth $49,740,000 after buying an additional 113,841 shares in the last quarter. Institutional investors and hedge funds own 63.30% of the company’s stock.
Shares of Cincinnati Financial stock traded down $0.75 during mid-day trading on Thursday, hitting $68.92. 406,400 shares of the stock were exchanged, compared to its average volume of 574,950. Cincinnati Financial Co. has a 12 month low of $68.28 and a 12 month high of $81.98. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.11. The stock has a market cap of $11.58 billion, a P/E ratio of 25.18 and a beta of 0.85.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Wednesday, June 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.08%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 77.37%.
Several equities analysts have commented on the stock. BidaskClub cut shares of Cincinnati Financial from a “hold” rating to a “sell” rating in a research report on Thursday, June 7th. Zacks Investment Research cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $76.00.
In related news, Director David P. Osborn purchased 370 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were bought at an average price of $70.16 per share, with a total value of $25,959.20. Following the acquisition, the director now owns 23,591 shares of the company’s stock, valued at approximately $1,655,144.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.07% of the company’s stock.
Cincinnati Financial Profile
Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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