The Manufacturers Life Insurance Company acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 77,843 shares of the insurance provider’s stock, valued at approximately $14,412,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Keating Financial Advisory Services Inc. purchased a new position in Cincinnati Financial during the 2nd quarter valued at about $27,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $29,000. Covestor Ltd lifted its position in shares of Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 83 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cincinnati Financial in the 1st quarter worth approximately $34,000. Finally, DV Equities LLC bought a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $36,000. 65.24% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Cincinnati Financial
In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the acquisition, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.94% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on CINF
Cincinnati Financial Trading Down 0.3%
NASDAQ CINF opened at $171.97 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm has a market cap of $26.39 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 3.61 and a beta of 0.54. The company has a 50 day moving average price of $178.09 and a 200 day moving average price of $168.68. Cincinnati Financial Corporation has a 52 week low of $150.00 and a 52 week high of $194.81.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period in the previous year, the company earned $1.97 EPS. As a group, sell-side analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio is presently 17.74%.
Cincinnati Financial Profile
Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.
The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.
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