Seeyond lifted its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 36.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,473 shares of the insurance provider’s stock after acquiring an additional 3,880 shares during the period. Seeyond’s holdings in Cincinnati Financial were worth $1,500,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. First Trust Advisors LP lifted its stake in Cincinnati Financial by 80.8% in the 1st quarter. First Trust Advisors LP now owns 1,102,521 shares of the insurance provider’s stock valued at $94,707,000 after acquiring an additional 492,556 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Cincinnati Financial by 324.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 355,561 shares of the insurance provider’s stock valued at $36,861,000 after purchasing an additional 271,747 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cincinnati Financial by 10.3% in the fourth quarter. Geode Capital Management LLC now owns 2,228,263 shares of the insurance provider’s stock worth $172,245,000 after purchasing an additional 208,449 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Cincinnati Financial by 535.4% in the second quarter. Acadian Asset Management LLC now owns 246,052 shares of the insurance provider’s stock worth $25,506,000 after purchasing an additional 207,326 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Cincinnati Financial by 179.9% during the second quarter. BNP Paribas Arbitrage SA now owns 308,282 shares of the insurance provider’s stock worth $31,960,000 after purchasing an additional 198,131 shares during the last quarter. Institutional investors and hedge funds own 63.94% of the company’s stock.
Shares of NASDAQ:CINF traded down $1.12 during trading on Wednesday, hitting $110.66. 16,769 shares of the company were exchanged, compared to its average volume of 534,662. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 33.13 and a beta of 0.64. Cincinnati Financial Co. has a fifty-two week low of $71.01 and a fifty-two week high of $115.56. The firm has a fifty day moving average price of $109.58 and a two-hundred day moving average price of $98.67. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.10.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. Cincinnati Financial had a return on equity of 7.17% and a net margin of 18.28%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue was up 22.8% compared to the same quarter last year. As a group, research analysts predict that Cincinnati Financial Co. will post 3.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 18th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $2.24 dividend on an annualized basis and a yield of 2.02%. Cincinnati Financial’s payout ratio is 66.87%.
CINF has been the subject of a number of analyst reports. BidaskClub raised shares of Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. MKM Partners reissued a “buy” rating and set a $120.00 price target (up from $100.00) on shares of Cincinnati Financial in a research report on Friday, May 24th. Credit Suisse Group upgraded shares of Cincinnati Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $90.00 to $110.00 in a research note on Friday, May 17th. Finally, Royal Bank of Canada raised their price objective on Cincinnati Financial to $105.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cincinnati Financial has a consensus rating of “Buy” and a consensus target price of $102.40.
Cincinnati Financial 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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