Asset Management One Co. Ltd. increased its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 11.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,256 shares of the insurance provider’s stock after purchasing an additional 8,115 shares during the period. Asset Management One Co. Ltd.’s holdings in Cincinnati Financial were worth $8,321,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Krane Funds Advisors LLC bought a new position in Cincinnati Financial in the 2nd quarter worth about $25,000. Kavar Capital Partners LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter valued at $26,000. Virtus ETF Advisers LLC acquired a new position in Cincinnati Financial in the 2nd quarter valued at $29,000. Hanson & Doremus Investment Management acquired a new position in Cincinnati Financial in the 2nd quarter valued at $40,000. Finally, Gradient Investments LLC acquired a new position in Cincinnati Financial in the 2nd quarter valued at $46,000. 64.06% of the stock is owned by hedge funds and other institutional investors.
Cincinnati Financial stock traded down $0.10 during mid-day trading on Friday, hitting $116.13. 466,901 shares of the stock were exchanged, compared to its average volume of 536,822. The firm’s fifty day simple moving average is $113.59 and its two-hundred day simple moving average is $103.05. Cincinnati Financial Co. has a 12 month low of $71.01 and a 12 month high of $118.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $18.76 billion, a price-to-earnings ratio of 34.67 and a beta of 0.63.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $0.81 EPS. Cincinnati Financial’s revenue was up 22.8% compared to the same quarter last year. As a group, analysts forecast that Cincinnati Financial Co. will post 3.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 18th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 66.87%.
A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 1st. Buckingham Research upped their price target on shares of Cincinnati Financial from $92.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. ValuEngine cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada raised their price target on shares of Cincinnati Financial to $105.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Cincinnati Financial presently has a consensus rating of “Buy” and an average price target of $106.40.
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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