Signition LP acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,279 shares of the insurance provider’s stock, valued at approximately $420,000.
Several other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp boosted its holdings in Cincinnati Financial by 68.3% in the second quarter. Dupont Capital Management Corp now owns 2,498 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 1,014 shares in the last quarter. Fiera Capital Corp acquired a new position in Cincinnati Financial in the first quarter valued at approximately $200,000. GWM Advisors LLC acquired a new position in Cincinnati Financial in the first quarter valued at approximately $217,000. First Commonwealth Financial Corp PA acquired a new position in Cincinnati Financial in the first quarter valued at approximately $223,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Cincinnati Financial in the second quarter valued at approximately $214,000. 63.62% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on CINF shares. Sandler O’Neill reaffirmed a “neutral” rating on shares of Cincinnati Financial in a report on Friday, July 27th. BidaskClub downgraded Cincinnati Financial from a “hold” rating to a “sell” rating in a report on Thursday, June 7th. Credit Suisse Group began coverage on Cincinnati Financial in a report on Tuesday, August 7th. They issued an “underperform” rating and a $70.00 price objective for the company. Finally, Zacks Investment Research raised Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $74.00.
CINF stock opened at $74.39 on Friday. The company has a market capitalization of $12.20 billion, a PE ratio of 24.67 and a beta of 0.88. Cincinnati Financial Co. has a twelve month low of $66.33 and a twelve month high of $80.17. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.27 and a quick ratio of 0.27.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, July 26th. The insurance provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.27. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.43 billion. Cincinnati Financial had a return on equity of 6.36% and a net margin of 16.59%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. sell-side analysts predict that Cincinnati Financial Co. will post 3.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Wednesday, September 19th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.85%. Cincinnati Financial’s payout ratio is currently 77.37%.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation 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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