Chesley Taft & Associates LLC lifted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,100 shares of the insurance provider’s stock after buying an additional 800 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Cincinnati Financial were worth $736,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new stake in Cincinnati Financial in the 4th quarter worth approximately $41,000. Meridian Wealth Management LLC purchased a new stake in Cincinnati Financial in the 1st quarter worth approximately $48,000. Parallel Advisors LLC lifted its stake in Cincinnati Financial by 30.5% in the 1st quarter. Parallel Advisors LLC now owns 758 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 177 shares in the last quarter. Weaver Consulting Group purchased a new stake in Cincinnati Financial in the 1st quarter worth approximately $121,000. Finally, Next Capital Management LLC purchased a new stake in Cincinnati Financial in the 1st quarter worth approximately $106,000. Institutional investors own 63.31% of the company’s stock.
Several analysts have issued reports on the stock. BidaskClub upgraded shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Wednesday. MKM Partners increased their target price on shares of Warrior Met Coal to $38.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Zacks Investment Research raised shares of Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Credit Suisse Group lowered shares of Advanced Disposal Services from an “outperform” rating to a “neutral” rating and increased their target price for the company from $29.00 to $33.00 in a report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.75.
CINF stock opened at $107.26 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Co. has a 52 week low of $70.08 and a 52 week high of $108.89. The firm’s fifty day simple moving average is $105.21. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 32.02 and a beta of 0.67.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $1.47 billion. Cincinnati Financial had a net margin of 15.97% and a return on equity of 7.35%. The company’s revenue was up 76.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, equities analysts predict that Cincinnati Financial Co. will post 3.5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Wednesday, June 19th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.87%.
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 is diluted EPS different from basic EPS?
Receive News & Ratings for Cincinnati Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial and related companies with MarketBeat.com's FREE daily email newsletter.