Northern Trust Corp raised its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,967,513 shares of the insurance provider’s stock after purchasing an additional 11,845 shares during the period. Northern Trust Corp’s holdings in Cincinnati Financial were worth $203,972,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in CINF. JPMorgan Chase & Co. raised its stake in Cincinnati Financial by 5.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,310,391 shares of the insurance provider’s stock valued at $198,462,000 after purchasing an additional 118,643 shares during the last quarter. Geode Capital Management LLC increased its stake in Cincinnati Financial by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 2,228,263 shares of the insurance provider’s stock worth $172,245,000 after buying an additional 208,449 shares during the period. Bank of New York Mellon Corp increased its stake in Cincinnati Financial by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,152,515 shares of the insurance provider’s stock worth $119,481,000 after buying an additional 31,077 shares during the period. First Trust Advisors LP lifted its holdings in Cincinnati Financial by 80.8% during the 1st quarter. First Trust Advisors LP now owns 1,102,521 shares of the insurance provider’s stock worth $94,707,000 after buying an additional 492,556 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Cincinnati Financial by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 932,778 shares of the insurance provider’s stock worth $72,211,000 after buying an additional 17,989 shares in the last quarter. Institutional investors and hedge funds own 63.94% of the company’s stock.
Shares of Cincinnati Financial stock traded down $0.90 on Wednesday, reaching $110.88. 14,932 shares of the company were exchanged, compared to its average volume of 534,662. Cincinnati Financial Co. has a 1-year low of $71.01 and a 1-year high of $115.56. The company has a market cap of $18.52 billion, a P/E ratio of 33.13 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.29 and a quick ratio of 0.29. The stock’s 50 day moving average price is $109.58 and its 200-day moving average price is $98.67.
Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.21. Cincinnati Financial had a net margin of 18.28% and a return on equity of 7.17%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue was up 22.8% compared to the same quarter last year. On average, research analysts predict that Cincinnati Financial Co. will post 3.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.87%.
Several equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Cincinnati Financial to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. MKM Partners reaffirmed a “buy” rating and set a $120.00 price objective (up previously from $100.00) on shares of Cincinnati Financial in a research report on Friday, May 24th. Credit Suisse Group upgraded Cincinnati Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $90.00 to $110.00 in a research note on Friday, May 17th. Finally, BidaskClub upgraded Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Cincinnati Financial presently has a consensus rating of “Buy” and an average price target 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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