Cincinnati Financial Corporation (NASDAQ:CINF) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.
CINF has been the subject of several other research reports. Zacks Investment Research lowered Cincinnati Financial Corporation from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. Keefe, Bruyette & Woods set a $70.00 price objective on Cincinnati Financial Corporation and gave the stock a “hold” rating in a research note on Wednesday, March 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $72.00 price objective on shares of Cincinnati Financial Corporation in a research note on Monday, May 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $78.75.
Shares of Cincinnati Financial Corporation (CINF) traded down 0.32% during mid-day trading on Friday, reaching $71.23. The company had a trading volume of 554,951 shares. The stock has a market capitalization of $11.73 billion, a P/E ratio of 19.62 and a beta of 0.90. Cincinnati Financial Corporation has a one year low of $68.11 and a one year high of $79.60. The firm has a 50 day moving average of $70.58 and a 200-day moving average of $72.43.
Cincinnati Financial Corporation (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.05. Cincinnati Financial Corporation had a return on equity of 6.49% and a net margin of 10.77%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. Cincinnati Financial Corporation’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Cincinnati Financial Corporation will post $2.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Wednesday, June 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, June 19th. Cincinnati Financial Corporation’s dividend payout ratio (DPR) is 55.10%.
In other Cincinnati Financial Corporation news, Director David P. Osborn acquired 1,925 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was purchased at an average price of $70.00 per share, with a total value of $134,750.00. Following the completion of the purchase, the director now directly owns 21,542 shares in the company, valued at approximately $1,507,940. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.25% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Kentucky Retirement Systems acquired a new position in Cincinnati Financial Corporation during the fourth quarter worth $824,000. Teachers Advisors LLC raised its position in Cincinnati Financial Corporation by 5.0% in the fourth quarter. Teachers Advisors LLC now owns 185,479 shares of the insurance provider’s stock worth $14,050,000 after buying an additional 8,863 shares during the period. UBS Asset Management Americas Inc. raised its position in Cincinnati Financial Corporation by 4.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 458,839 shares of the insurance provider’s stock worth $34,757,000 after buying an additional 19,565 shares during the period. Vident Investment Advisory LLC raised its position in Cincinnati Financial Corporation by 0.8% in the fourth quarter. Vident Investment Advisory LLC now owns 32,410 shares of the insurance provider’s stock worth $2,455,000 after buying an additional 260 shares during the period. Finally, Norges Bank acquired a new position in Cincinnati Financial Corporation during the fourth quarter worth $118,284,000. 63.02% of the stock is owned by hedge funds and other institutional investors.
Cincinnati Financial Corporation Company Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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