Cincinnati Financial Corporation (NASDAQ: CINF) is a U.S.-based property and casualty insurer with a long history of conservative underwriting and dividend payments. Shares recently traded around $165 per share, giving the company a market value of roughly $25.7 billion.
Cincinnati Financial’s shareholder base is largely institutional, which can help support long-term ownership stability. Looking at who owns the stock and how insiders have been trading provides useful context on how major investors and company leadership may be positioned today.
Cincinnati Financial Largest Shareholders
Cincinnati Financial’s ownership is led by large passive institutions that tend to hold through market cycles. Active managers adjusted positions modestly in both directions, suggesting mixed views on valuation rather than a clear shift in sentiment.
- The Vanguard Group: 19,530,456 shares (12.52%), ~$3.22B value. Added 27,744 shares (+0.14%).
- BlackRock Institutional Trust Company: 9,072,970 shares (5.82%), ~$1.50B value. Added 14,418 shares (+0.16%).
- State Street Investment Management (US): 8,542,265 shares (5.48%), ~$1.41B value. Added 26,475 shares (+0.31%).
- Charles Schwab Investment Management: 6,534,310 shares (4.19%), ~$1.08B value. Added 63,772 shares (+0.99%).
- Geode Capital Management: 4,100,091 shares (2.63%), ~$676M value. Added 41,051 shares (+1.01%).
- The London Company of Virginia: 2,142,501 shares (1.37%), ~$353M value. Cut 66,120 shares (-2.99%).
- GQG Partners: 1,862,717 shares (1.19%), ~$307M value. Cut 269,498 shares (-12.64%).
- Norges Bank Investment Management: 1,582,823 shares (1.01%), ~$261M value. Added 24,303 shares (+1.56%).
- Fort Washington Investment Advisors: 1,499,400 shares (0.96%), ~$247M value. Cut 2,195 shares (-0.15%).
- Dimensional Fund Advisors: 1,471,628 shares (0.94%), ~$243M value. Added 46,426 shares (+3.26%).
For investors, this ownership mix suggests Cincinnati Financial continues to benefit from a stable institutional base, with recent adjustments pointing to balanced views on valuation rather than broad concern.
Hedge Fund Highlights
FJ Capital Management, founded by Martin Friedman, made one of the larger relative moves last quarter, increasing its Cincinnati Financial position by roughly 97%. The firm now holds about $7.1M value, which may reflect growing confidence in underwriting discipline and capital allocation.
Schonfeld Strategic Advisors, led by Steven Schonfeld, lifted its stake by about 14% to roughly $3.1M value. While still modest, the increase could suggest a more constructive view on risk-adjusted returns.
O’Shaughnessy Asset Management, run by James O’Shaughnessy, raised its holdings by approximately 8%, bringing total exposure to about $10.3M value. The gradual accumulation appears consistent with a longer-term, systematic approach.
Dimensional Fund Advisors, co-founded by David Booth, continued to add incrementally, increasing its position by about 3% to roughly $233M value, aligning with its focus on profitable, conservatively capitalized financial companies. For investors, hedge fund activity overall appears measured, with selective additions but no signs of aggressive positioning.
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Cincinnati Financial Recent Insider Trades
Insider trades can offer insight into how executives and directors are managing personal exposure, though the intent behind individual transactions is not always clear.
- Thomas Christopher Hogan (Officer): Sold 312 shares, ~$52k value.
- Edward S. Wilkins (Director): Bought 140 shares at $163.77, ~$23k value.
- Donald J. Doyle Jr. (Officer): Sold 1,500 shares, ~$248k value.
- Other officers and directors: Multiple 10-share transactions that appear administrative and represent 0.00% of shares outstanding.
It appears insider activity remains limited in size and impact, with small sales alongside a modest purchase suggesting personal portfolio management rather than a strong signal on fundamentals, which for investors points to a neutral insider stance.
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What the Ownership & Insider Trade Data Tell Us
Cincinnati Financial’s ownership remains anchored by large, long-term institutional investors, while recent hedge fund and insider activity suggests a cautious but stable posture. There are no clear signs of aggressive accumulation or broad exits at current price levels. For investors, the data supports the view of Cincinnati Financial as a steady, institutionally supported insurer, with future performance likely tied more closely to underwriting results, investment portfolio returns, and the interest rate environment than ownership shifts.
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