Allianz Asset Management GmbH Trims Position in Cincinnati Financial Co. (NASDAQ:CINF)

Allianz Asset Management GmbH trimmed its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 94.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,281 shares of the insurance provider’s stock after selling 460,917 shares during the period. Allianz Asset Management GmbH’s holdings in Cincinnati Financial were worth $2,916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sei Investments Co. grew its stake in Cincinnati Financial by 9.7% during the first quarter. Sei Investments Co. now owns 311,202 shares of the insurance provider’s stock valued at $31,743,000 after acquiring an additional 27,492 shares in the last quarter. ING Groep NV grew its stake in Cincinnati Financial by 199.8% during the fourth quarter. ING Groep NV now owns 9,925 shares of the insurance provider’s stock valued at $867,000 after acquiring an additional 6,614 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Cincinnati Financial by 183.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 129,736 shares of the insurance provider’s stock valued at $13,375,000 after acquiring an additional 84,029 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Cincinnati Financial by 5.9% during the first quarter. Handelsbanken Fonder AB now owns 39,511 shares of the insurance provider’s stock valued at $4,073,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in Cincinnati Financial by 90.2% during the first quarter. Bank of Nova Scotia now owns 47,996 shares of the insurance provider’s stock valued at $4,948,000 after acquiring an additional 22,765 shares in the last quarter. 66.91% of the stock is owned by institutional investors.

NASDAQ CINF opened at $117.75 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.08. The stock has a market cap of $18.97 billion, a P/E ratio of 30.65 and a beta of 0.65. The firm’s 50-day simple moving average is $117.41. Cincinnati Financial Co. has a one year low of $61.17 and a one year high of $124.37.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Wednesday, April 28th. The insurance provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.68 billion. Cincinnati Financial had a net margin of 31.05% and a return on equity of 6.04%. The company’s revenue for the quarter was down 2349.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. As a group, equities research analysts expect that Cincinnati Financial Co. will post 4.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Thursday, June 17th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, June 16th. Cincinnati Financial’s dividend payout ratio (DPR) is 76.83%.

In other Cincinnati Financial news, Director Charles Odell Schiff sold 10,100 shares of the firm’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $119.82, for a total transaction of $1,210,182.00. Company insiders own 8.22% of the company’s stock.

Several research firms have commented on CINF. MKM Partners increased their price objective on shares of Cincinnati Financial from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, March 12th. Royal Bank of Canada increased their price objective on shares of Cincinnati Financial from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cincinnati Financial from $88.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, May 4th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $110.75.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company 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.

Further Reading: CD Ladder

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

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