Beese Fulmer Investment Management Inc. Lowers Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Beese Fulmer Investment Management Inc. decreased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,203 shares of the insurance provider’s stock after selling 200 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Cincinnati Financial were worth $436,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Princeton Global Asset Management LLC purchased a new position in shares of Cincinnati Financial in the fourth quarter worth $41,000. Meridian Wealth Management LLC purchased a new position in shares of Cincinnati Financial in the first quarter worth $48,000. Parallel Advisors LLC raised its stake in shares of Cincinnati Financial by 30.5% in the first quarter. Parallel Advisors LLC now owns 758 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 177 shares during the last quarter. Next Capital Management LLC purchased a new position in shares of Cincinnati Financial in the first quarter worth $106,000. Finally, CWM LLC raised its stake in shares of Cincinnati Financial by 10.4% in the first quarter. CWM LLC now owns 1,317 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 63.31% of the company’s stock.

Shares of CINF traded up $0.07 during trading hours on Tuesday, hitting $106.50. The stock had a trading volume of 555,913 shares, compared to its average volume of 700,645. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial Co. has a 12 month low of $70.08 and a 12 month high of $108.89. The company has a market cap of $17.42 billion, a price-to-earnings ratio of 31.79 and a beta of 0.67. The firm has a fifty day moving average price of $105.06.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. Cincinnati Financial had a return on equity of 7.35% and a net margin of 15.97%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Cincinnati Financial’s revenue was up 76.4% compared to the same quarter last year. As a group, analysts forecast that Cincinnati Financial Co. will post 3.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Wednesday, June 19th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.10%. The ex-dividend date was Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio is presently 66.87%.

Several research firms have recently weighed in on CINF. BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. MKM Partners lifted their price objective on Warrior Met Coal to $38.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Credit Suisse Group lowered Advanced Disposal Services from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $29.00 to $33.00 in a report on Friday, May 17th. Finally, Zacks Investment Research raised Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $101.75.

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.

Read More: How liquidity affects the bid-ask spread

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

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