First Financial Bank Trust Division decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,622 shares of the insurance provider’s stock after selling 1,848 shares during the period. Cincinnati Financial makes up 2.2% of First Financial Bank Trust Division’s portfolio, making the stock its 9th largest holding. First Financial Bank Trust Division owned approximately 0.10% of Cincinnati Financial worth $14,571,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA boosted its stake in shares of Cincinnati Financial by 1.2% in the 1st quarter. Private Trust Co. NA now owns 10,421 shares of the insurance provider’s stock valued at $895,000 after purchasing an additional 122 shares in the last quarter. Pennsylvania Trust Co boosted its stake in shares of Cincinnati Financial by 1.3% in the 4th quarter. Pennsylvania Trust Co now owns 10,031 shares of the insurance provider’s stock valued at $777,000 after purchasing an additional 130 shares in the last quarter. NEXT Financial Group Inc boosted its stake in shares of Cincinnati Financial by 7.7% in the 4th quarter. NEXT Financial Group Inc now owns 2,153 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 153 shares in the last quarter. Creative Planning boosted its stake in shares of Cincinnati Financial by 0.9% in the 4th quarter. Creative Planning now owns 18,592 shares of the insurance provider’s stock valued at $1,439,000 after purchasing an additional 158 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of Cincinnati Financial by 1.1% in the 4th quarter. Moody National Bank Trust Division now owns 14,664 shares of the insurance provider’s stock valued at $1,135,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 64.17% of the company’s stock.
Cincinnati Financial stock opened at $87.69 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.28 and a quick ratio of 0.28. Cincinnati Financial Co. has a 12-month low of $66.33 and a 12-month high of $87.97. The stock has a market capitalization of $14.19 billion, a P/E ratio of 25.96 and a beta of 0.68.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, March 20th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.55%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Tuesday, March 19th. Cincinnati Financial’s payout ratio is currently 66.87%.
In other Cincinnati Financial news, Director Dirk J. Debbink purchased 351 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was acquired at an average cost of $85.48 per share, with a total value of $30,003.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.16% of the company’s stock.
Several equities research analysts have recently commented on the stock. Credit Suisse Group upgraded shares of Cincinnati Financial from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $75.00 to $90.00 in a research note on Wednesday, February 27th. Zacks Investment Research upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Wednesday, January 9th. Finally, BidaskClub upgraded shares of Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Cincinnati Financial currently has an average rating of “Hold” and a consensus price target of $89.00.
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About Cincinnati Financial
Cincinnati Financial Corporation, together with its subsidiary, 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.
Further Reading: Average Daily Trade Volume – ADTV
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