Cincinnati Financial Corporation (NASDAQ:CINF), saw a high level insider alter his positioning with the company through a purchase of common stock. President and Chief Executive Officer Steven J. Johnston acquired 8,000 shares today, at an average price of $25.08 per share. Following the completion of this transaction, Johnston now has 44,655 shares directly invested with the company.
A $7.54 billion market cap company, Cincinnati Financial Corporation (NASDAQ:CINF) is engaged in property casualty insurance marketed through independent insurance agents in 39 states. The Company operates in five segments: Commercial lines property casualty insurance, Personal lines property casualty insurance, Excess and surplus lines property casualty insurance, Life insurance and Investments.
While there are multiple outside investors, one fund in particular has significantly more involvement than any others, being First Eagle Investment Management, the hedge fund run by Jean-Marie Eveillard. This fund has 9,615,811 shares worth about $467.9 million invested in the insurance corporation.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.