Raymond James Financial Services Advisors Inc. lowered its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 10.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,093 shares of the company’s stock after selling 4,213 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cincinnati Financial Corporation were worth $2,810,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the company. Cypress Capital Management LLC WY increased its stake in Cincinnati Financial Corporation by 12.2% in the third quarter. Cypress Capital Management LLC WY now owns 1,375 shares of the company’s stock valued at $104,000 after buying an additional 150 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in Cincinnati Financial Corporation during the third quarter valued at about $108,000. Evercore Wealth Management LLC increased its stake in Cincinnati Financial Corporation by 201.8% in the second quarter. Evercore Wealth Management LLC now owns 1,687 shares of the company’s stock valued at $126,000 after buying an additional 1,128 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Cincinnati Financial Corporation by 46.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,900 shares of the company’s stock valued at $143,000 after buying an additional 600 shares in the last quarter. Finally, First Manhattan Co. increased its stake in Cincinnati Financial Corporation by 124.0% in the third quarter. First Manhattan Co. now owns 2,437 shares of the company’s stock valued at $183,000 after buying an additional 1,349 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.
Shares of Cincinnati Financial Corporation (NASDAQ:CINF) traded up 0.32% during midday trading on Tuesday, hitting $71.98. The stock had a trading volume of 167,571 shares. The firm has a 50-day moving average of $72.17 and a 200 day moving average of $74.30. Cincinnati Financial Corporation has a 12-month low of $61.00 and a 12-month high of $79.60. The firm has a market cap of $11.83 billion, a PE ratio of 20.28 and a beta of 0.81.
Cincinnati Financial Corporation (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. Cincinnati Financial Corporation had a return on equity of 7.33% and a net margin of 10.85%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $1.10 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. On average, analysts expect that Cincinnati Financial Corporation will post $3.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 22nd will be given a $0.50 dividend. This is a positive change from Cincinnati Financial Corporation’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, March 20th. Cincinnati Financial Corporation’s dividend payout ratio (DPR) is currently 54.08%.
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Several equities research analysts have issued reports on the company. Janney Montgomery Scott assumed coverage on Cincinnati Financial Corporation in a report on Thursday, December 22nd. They set a “neutral” rating on the stock. Zacks Investment Research downgraded Cincinnati Financial Corporation from a “strong-buy” rating to a “hold” rating in a report on Friday, October 28th. MKM Partners restated a “buy” rating and set a $90.00 price objective on shares of Cincinnati Financial Corporation in a report on Friday. Finally, Langen Mcalenn restated a “neutral” rating on shares of Cincinnati Financial Corporation in a report on Thursday, December 22nd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $78.67.
In other news, insider Donald J. Doyle, Jr. sold 3,000 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $76.69, for a total value of $230,070.00. Following the transaction, the insider now directly owns 27,766 shares in the company, valued at approximately $2,129,374.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.22% of the stock is owned by company insiders.
About Cincinnati Financial Corporation
Cincinnati Financial Corporation is an insurance holding company. The Company is engaged in the business of property casualty insurance marketed through independent insurance agencies in over 40 states. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, Life insurance and Investments.
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