US Bancorp DE trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 957,479 shares of the insurance provider’s stock after selling 6,969 shares during the period. US Bancorp DE owned about 0.59% of Cincinnati Financial worth $64,017,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CINF. Select Equity Group L.P. boosted its holdings in Cincinnati Financial by 29.6% in the 1st quarter. Select Equity Group L.P. now owns 4,770,980 shares of the insurance provider’s stock worth $354,293,000 after buying an additional 1,089,273 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Cincinnati Financial by 1,336.3% in the 1st quarter. Victory Capital Management Inc. now owns 513,090 shares of the insurance provider’s stock worth $38,102,000 after buying an additional 477,367 shares during the last quarter. First Trust Advisors LP boosted its holdings in Cincinnati Financial by 73.2% in the 2nd quarter. First Trust Advisors LP now owns 682,914 shares of the insurance provider’s stock worth $45,660,000 after buying an additional 288,711 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Cincinnati Financial by 256.1% during the 1st quarter. Millennium Management LLC now owns 373,603 shares of the insurance provider’s stock worth $27,744,000 after purchasing an additional 268,691 shares during the last quarter. Finally, USS Investment Management Ltd acquired a new position in shares of Cincinnati Financial during the 1st quarter worth approximately $9,481,000. Institutional investors own 63.24% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Credit Suisse Group assumed coverage on Cincinnati Financial in a report on Tuesday, August 7th. They set an “underperform” rating and a $70.00 target price on the stock. BidaskClub upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Sandler O’Neill restated a “neutral” rating on shares of Cincinnati Financial in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $76.00.
Shares of Cincinnati Financial stock traded up $0.15 on Tuesday, hitting $76.29. 152 shares of the company were exchanged, compared to its average volume of 577,442. The stock has a market cap of $12.32 billion, a P/E ratio of 27.85 and a beta of 0.88. Cincinnati Financial Co. has a 1-year low of $66.33 and a 1-year high of $78.04. 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 issued its earnings results on Thursday, July 26th. The insurance provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.27. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Cincinnati Financial had a return on equity of 6.36% and a net margin of 16.59%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. research analysts expect that Cincinnati Financial Co. will post 3.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Wednesday, September 19th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, September 18th. Cincinnati Financial’s dividend payout ratio is currently 77.37%.
About Cincinnati Financial
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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