Cambridge Investment Research Advisors Inc. grew its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,387 shares of the insurance provider’s stock after buying an additional 4,537 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Cincinnati Financial were worth $3,226,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathstone Family Office LLC purchased a new stake in Cincinnati Financial during the 1st quarter worth about $26,000. FDx Advisors Inc. lifted its holdings in Cincinnati Financial by 256.7% during the 1st quarter. FDx Advisors Inc. now owns 25,179 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 18,121 shares in the last quarter. Citizens Financial Group Inc RI lifted its holdings in Cincinnati Financial by 119.1% during the 1st quarter. Citizens Financial Group Inc RI now owns 447 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 243 shares in the last quarter. Horan Securities Inc. purchased a new stake in Cincinnati Financial during the 1st quarter worth about $47,000. Finally, WASHINGTON TRUST Co purchased a new stake in Cincinnati Financial during the 1st quarter worth about $47,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on CINF. Deutsche Bank raised Cincinnati Financial from a “sell” rating to a “hold” rating and set a $63.00 price objective on the stock in a report on Tuesday, June 16th. MKM Partners decreased their target price on Cincinnati Financial from $135.00 to $100.00 in a research note on Tuesday, April 28th. Piper Sandler decreased their target price on Cincinnati Financial from $95.00 to $70.00 and set an “underweight” rating on the stock in a research note on Monday, April 6th. Royal Bank of Canada upgraded Cincinnati Financial from a “sector perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a research note on Wednesday, June 3rd. Finally, Credit Suisse Group lowered Cincinnati Financial from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $68.00 to $54.00 in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.13.
In related news, SVP Teresa C. Cracas sold 100,000 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $82.79, for a total transaction of $8,279,000.00. Following the completion of the sale, the senior vice president now directly owns 29,505 shares in the company, valued at approximately $2,442,718.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.40% of the stock is currently owned by corporate insiders.
Shares of Cincinnati Financial stock opened at $77.93 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.26 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $12.54 billion, a PE ratio of 23.26 and a beta of 0.51. The business’s 50-day moving average price is $69.38 and its 200-day moving average price is $80.78. Cincinnati Financial Co. has a 12 month low of $46.07 and a 12 month high of $118.19.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $1.65 billion. Cincinnati Financial had a return on equity of 6.46% and a net margin of 25.20%. The company’s revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. As a group, analysts predict that Cincinnati Financial Co. will post 3.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.40 annualized dividend and a dividend yield of 3.08%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 57.14%.
Cincinnati Financial Company Profile
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.
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