Xact Kapitalforvaltning AB bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF) during the third quarter, Holdings Channel reports. The institutional investor bought 20,889 shares of the company’s stock, valued at approximately $1,575,000.
Several other institutional investors also recently made changes to their positions in CINF. Cypress Capital Management LLC WY increased its position in shares of 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 in the last quarter. Evercore Wealth Management LLC increased its position in shares of 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 in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of 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 in the last quarter. First Manhattan Co. increased its position in shares of 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 in the last quarter. Finally, Foster & Motley Inc. bought a new position in shares of Cincinnati Financial Corporation during the second quarter worth $210,000. 61.14% of the stock is owned by institutional investors.
Cincinnati Financial Corporation (NASDAQ:CINF) traded up 1.15% during midday trading on Friday, hitting $71.06. 551,826 shares of the company were exchanged. Cincinnati Financial Corporation has a one year low of $61.41 and a one year high of $79.60. The stock has a market capitalization of $11.71 billion, a PE ratio of 18.27 and a beta of 0.81. The firm’s 50-day moving average price is $72.31 and its 200-day moving average price is $74.33.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.36 billion. Cincinnati Financial Corporation had a net margin of 10.85% and a return on equity of 7.33%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. Equities research analysts anticipate that Cincinnati Financial Corporation will post $3.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders 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 yield of 2.81%. This is an increase from Cincinnati Financial Corporation’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 20th. Cincinnati Financial Corporation’s dividend payout ratio is presently 54.08%.
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A number of brokerages have weighed in on CINF. Janney Montgomery Scott began coverage on shares of Cincinnati Financial Corporation in a research note on Thursday, December 22nd. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Cincinnati Financial Corporation from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 28th. MKM Partners reaffirmed a “buy” rating and issued a $90.00 target price on shares of Cincinnati Financial Corporation in a research note on Friday. Finally, Langen Mcalenn reaffirmed a “neutral” rating on shares of Cincinnati Financial Corporation in a research note on Thursday, December 22nd. Three equities 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 has a consensus rating of “Buy” and an average target price of $78.67.
In other Cincinnati Financial Corporation news, insider Donald J. Doyle, Jr. sold 3,000 shares of the stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $76.69, for a total transaction of $230,070.00. Following 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.22% of the company’s stock.
Cincinnati Financial Corporation Company Profile
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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