Welch Investments LLC bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 49,829 shares of the company’s stock, valued at approximately $3,775,000. Cincinnati Financial Corporation accounts for about 3.3% of Welch Investments LLC’s investment portfolio, making the stock its 12th largest position.
Other large investors have also bought and sold shares of the company. Cypress Capital Management LLC WY raised its position in Cincinnati Financial Corporation by 12.2% in the third quarter. Cypress Capital Management LLC WY now owns 1,375 shares of the company’s stock worth $104,000 after buying an additional 150 shares during the period. Salem Investment Counselors Inc. bought a new position in Cincinnati Financial Corporation during the third quarter worth about $108,000. Evercore Wealth Management LLC raised its position in Cincinnati Financial Corporation by 201.8% in the second quarter. Evercore Wealth Management LLC now owns 1,687 shares of the company’s stock worth $126,000 after buying an additional 1,128 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Cincinnati Financial Corporation by 46.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,900 shares of the company’s stock worth $143,000 after buying an additional 600 shares during the period. Finally, First Manhattan Co. raised its position in Cincinnati Financial Corporation by 124.0% in the third quarter. First Manhattan Co. now owns 2,437 shares of the company’s stock worth $183,000 after buying an additional 1,349 shares during the period. 61.09% of the stock is owned by institutional investors.
Cincinnati Financial Corporation (NASDAQ:CINF) traded up 0.97% during mid-day trading on Monday, hitting $71.75. The stock had a trading volume of 533,570 shares. Cincinnati Financial Corporation has a one year low of $61.00 and a one year high of $79.60. The company has a 50 day moving average price of $72.31 and a 200 day moving average price of $74.33. The stock has a market cap of $11.80 billion, a P/E ratio of 20.21 and a beta of 0.81.
Cincinnati Financial Corporation (NASDAQ:CINF) last posted its quarterly earnings data on Wednesday, February 8th. The company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.09. Cincinnati Financial Corporation had a net margin of 10.85% and a return on equity of 7.33%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $1.10 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts anticipate that Cincinnati Financial Corporation will post $3.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Wednesday, March 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Monday, March 20th. This is a positive change from Cincinnati Financial Corporation’s previous quarterly dividend of $0.48. Cincinnati Financial Corporation’s dividend payout ratio (DPR) is currently 54.08%.
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CINF has been the subject of a number of recent research reports. Langen Mcalenn reiterated a “neutral” rating on shares of Cincinnati Financial Corporation in a report on Thursday, December 22nd. Zacks Investment Research upgraded Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, November 8th. MKM Partners restated a “buy” rating and issued a $90.00 price target on shares of Cincinnati Financial Corporation in a research note on Friday. Finally, Janney Montgomery Scott initiated coverage on Cincinnati Financial Corporation in a research note on Thursday, December 22nd. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $78.67.
In related news, insider Donald J. Doyle, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $76.69, for a total transaction of $230,070.00. Following the completion of the sale, the insider now directly owns 27,766 shares in the company, valued at $2,129,374.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.22% of the stock is owned by company insiders.
About Cincinnati Financial Corporation
Cincinnati Financial Corporation is an insurance holding company. The Company is engaged in the business of property casualty insurance marketed through independent insurance agencies in over 40 states. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, Life insurance and Investments.
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