State of Alaska Department of Revenue Sells 15,570 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

State of Alaska Department of Revenue trimmed its position in shares of Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 19.6% in the second quarter, Holdings Channel reports. The fund owned 63,976 shares of the insurance provider’s stock after selling 15,570 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cincinnati Financial were worth $7,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CINF. Covestor Ltd acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at about $26,000. Ensign Peak Advisors Inc boosted its stake in shares of Cincinnati Financial by 95.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 107,565 shares of the insurance provider’s stock valued at $12,254,000 after purchasing an additional 52,459 shares during the last quarter. Geode Capital Management LLC boosted its position in Cincinnati Financial by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 2,810,464 shares of the insurance provider’s stock valued at $319,368,000 after acquiring an additional 50,399 shares during the last quarter. American International Group Inc. boosted its position in Cincinnati Financial by 0.5% during the fourth quarter. American International Group Inc. now owns 44,975 shares of the insurance provider’s stock valued at $5,124,000 after acquiring an additional 213 shares during the last quarter. Finally, Siemens Fonds Invest GmbH bought a new position in shares of Cincinnati Financial during the 4th quarter worth about $261,000. 64.52% of the stock is currently owned by institutional investors.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $99.16 on Tuesday. Cincinnati Financial Co. has a 12-month low of $93.41 and a 12-month high of $143.22. The firm’s fifty day simple moving average is $103.24 and its two-hundred day simple moving average is $118.68. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $15.79 billion, a P/E ratio of 30.80 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINFGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.40). Cincinnati Financial had a return on equity of 7.45% and a net margin of 7.59%. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm earned $1.79 earnings per share. The business’s revenue was down 64.3% on a year-over-year basis. Analysts forecast that Cincinnati Financial Co. will post 5.05 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 16th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.76 annualized dividend and a dividend yield of 2.78%. Cincinnati Financial’s payout ratio is 85.71%.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Thomas J. Aaron purchased 1,030 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average cost of $96.33 per share, with a total value of $99,219.90. Following the completion of the acquisition, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $552,934.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cincinnati Financial news, Director Dirk J. Debbink acquired 510 shares of the stock in a transaction on Friday, July 29th. The stock was acquired at an average price of $96.66 per share, for a total transaction of $49,296.60. Following the completion of the transaction, the director now directly owns 44,243 shares of the company’s stock, valued at $4,276,528.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Aaron bought 1,030 shares of Cincinnati Financial stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $96.33 per share, with a total value of $99,219.90. Following the purchase, the director now directly owns 5,740 shares in the company, valued at $552,934.20. The disclosure for this purchase can be found here. Company insiders own 2.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CINF shares. TheStreet lowered shares of Cincinnati Financial from a “b” rating to a “c+” rating in a research note on Wednesday, July 27th. StockNews.com cut Cincinnati Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd.

About Cincinnati Financial

(Get Rating)

Cincinnati Financial Corporation, together with its subsidiaries, 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

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Co. (NASDAQ:CINFGet Rating).

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

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