Securian Asset Management Inc increased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 15,718 shares of the insurance provider’s stock after acquiring an additional 194 shares during the period. Securian Asset Management Inc’s holdings in Cincinnati Financial were worth $1,629,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chesley Taft & Associates LLC boosted its position in shares of Cincinnati Financial by 12.7% during the second quarter. Chesley Taft & Associates LLC now owns 7,100 shares of the insurance provider’s stock worth $736,000 after buying an additional 800 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Cincinnati Financial by 145.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 39,564 shares of the insurance provider’s stock valued at $3,399,000 after purchasing an additional 23,418 shares during the period. Ibex Wealth Advisors purchased a new position in Cincinnati Financial in the second quarter valued at $108,000. Belpointe Asset Management LLC purchased a new position in Cincinnati Financial in the first quarter valued at $126,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Cincinnati Financial by 4.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 20,062 shares of the insurance provider’s stock valued at $1,589,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds own 63.79% of the company’s stock.
NASDAQ:CINF opened at $108.23 on Friday. The firm has a market cap of $18.05 billion, a PE ratio of 32.31 and a beta of 0.65. The stock has a fifty day moving average price of $107.85 and a 200 day moving average price of $96.18. Cincinnati Financial Co. has a 12-month low of $71.01 and a 12-month high of $111.70. 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 posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 period last year, the firm earned $0.81 earnings per share. Cincinnati Financial’s quarterly revenue was up 22.8% on a year-over-year basis. Equities analysts forecast that Cincinnati Financial Co. will post 3.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 18th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is presently 66.87%.
A number of research analysts recently issued reports on CINF shares. BidaskClub upgraded Cincinnati Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. MKM Partners reiterated a “buy” rating and issued a $120.00 target price (up from $100.00) on shares of Cincinnati Financial in a report on Friday, May 24th. Royal Bank of Canada lifted their target price 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. Finally, Credit Suisse Group upgraded Cincinnati Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $90.00 to $110.00 in a report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cincinnati Financial currently has an average rating of “Buy” and a consensus target price of $102.40.
About Cincinnati Financial
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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