First Business Financial Services Inc. purchased a new stake in Cincinnati Financial Co. (NASDAQ:CINF) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,887 shares of the insurance provider’s stock, valued at approximately $498,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Financial Wealth Advisors LLC increased its position in shares of Cincinnati Financial by 24.5% in the first quarter. Summit Financial Wealth Advisors LLC now owns 38,867 shares of the insurance provider’s stock valued at $2,809,000 after buying an additional 7,652 shares during the period. AXA increased its position in shares of Cincinnati Financial by 4.2% in the first quarter. AXA now owns 13,238 shares of the insurance provider’s stock valued at $957,000 after buying an additional 538 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Cincinnati Financial by 0.8% in the first quarter. Asset Management One Co. Ltd. now owns 268,195 shares of the insurance provider’s stock valued at $19,386,000 after buying an additional 2,255 shares during the period. Cibc World Markets Corp increased its position in shares of Cincinnati Financial by 51.9% in the first quarter. Cibc World Markets Corp now owns 15,649 shares of the insurance provider’s stock valued at $1,131,000 after buying an additional 5,349 shares during the period. Finally, Blair William & Co. IL bought a new position in shares of Cincinnati Financial during the first quarter valued at about $1,232,000. Institutional investors and hedge funds own 61.09% of the company’s stock.
Cincinnati Financial Co. (CINF) traded down 0.30% on Friday, reaching $70.72. 481,503 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $70.31 and its 200 day moving average is $72.76. Cincinnati Financial Co. has a 52 week low of $68.11 and a 52 week high of $79.60. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 19.48 and a beta of 0.81.
Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.37 billion. Cincinnati Financial had a return on equity of 7.33% and a net margin of 10.85%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. On average, equities analysts anticipate that Cincinnati Financial Co. will post $2.80 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders 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 yield of 2.83%. Cincinnati Financial’s dividend payout ratio is currently 54.08%.
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Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods set a $70.00 price target on shares of Cincinnati Financial and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Royal Bank of Canada restated a “hold” rating and set a $72.00 target price on shares of Cincinnati Financial in a research report on Monday, May 22nd. Zacks Investment Research downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Finally, MKM Partners restated a “buy” rating and set a $90.00 target price on shares of Cincinnati Financial in a research report on Friday, February 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Cincinnati Financial currently has an average rating of “Hold” and a consensus target price of $78.75.
In other Cincinnati Financial news, Director David P. Osborn bought 1,925 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were acquired at an average cost of $70.00 per share, for a total transaction of $134,750.00. Following the purchase, the director now directly owns 21,542 shares of the company’s stock, valued at $1,507,940. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 9.22% of the stock is owned by corporate insiders.
About Cincinnati Financial
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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