JPMorgan Chase & Co. Sells 104,696 Shares of Cincinnati Financial Corp. (CINF)
JPMorgan Chase & Co. lowered its stake in shares of Cincinnati Financial Corp. (NASDAQ:CINF) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,530,398 shares of the company’s stock after selling 104,696 shares during the period. JPMorgan Chase & Co. owned about 1.54% of Cincinnati Financial Corp. worth $190,840,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Feltz Wealth PLAN Inc. purchased a new position in shares of Cincinnati Financial Corp. during the second quarter valued at about $121,000. Evercore Wealth Management LLC increased its position in shares of Cincinnati Financial Corp. 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 during the period. WFG Advisors LP increased its position in shares of Cincinnati Financial Corp. by 0.7% in the second quarter. WFG Advisors LP now owns 1,941 shares of the company’s stock valued at $145,000 after buying an additional 14 shares during the period. Mizuho Asset Management Co. Ltd. increased its position in shares of Cincinnati Financial Corp. by 107.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,974 shares of the company’s stock valued at $148,000 after buying an additional 1,021 shares during the period. Finally, Compagnie Lombard Odier SCmA increased its position in shares of Cincinnati Financial Corp. by 40.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,374 shares of the company’s stock valued at $178,000 after buying an additional 684 shares during the period. Hedge funds and other institutional investors own 60.35% of the company’s stock.
Shares of Cincinnati Financial Corp. (NASDAQ:CINF) opened at 76.74 on Thursday. The company has a 50-day moving average of $72.72 and a 200 day moving average of $73.40. The firm has a market cap of $12.64 billion, a P/E ratio of 19.73 and a beta of 0.82. Cincinnati Financial Corp. has a 12-month low of $53.64 and a 12-month high of $78.09.
Cincinnati Financial Corp. (NASDAQ:CINF) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.08. Cincinnati Financial Corp. had a return on equity of 8.34% and a net margin of 11.98%. The company earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business earned $1.04 earnings per share. Equities analysts predict that Cincinnati Financial Corp. will post $3.20 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Wednesday, December 21st will be paid a $0.48 dividend. The ex-dividend date is Monday, December 19th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.50%. Cincinnati Financial Corp.’s payout ratio is 49.36%.
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Separately, Zacks Investment Research raised shares of Cincinnati Financial Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, November 8th.
In other news, Director David P. Osborn bought 500 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The stock was acquired at an average cost of $68.44 per share, for a total transaction of $34,220.00. Following the completion of the purchase, the director now owns 19,845 shares of the company’s stock, valued at approximately $1,358,191.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.22% of the stock is owned by corporate insiders.
About Cincinnati Financial Corp.
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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