California Public Employees Retirement System reduced its position in Cincinnati Financial Co. (NASDAQ:CINF) by 7.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,472 shares of the insurance provider’s stock after selling 30,700 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Cincinnati Financial worth $26,991,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Salem Investment Counselors Inc. acquired a new position in shares of Cincinnati Financial during the third quarter worth about $108,000. Clarius Group LLC acquired a new position in shares of Cincinnati Financial during the first quarter worth about $130,000. Fuller & Thaler Asset Management Inc. raised its position in shares of Cincinnati Financial by 46.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,900 shares of the insurance provider’s stock worth $143,000 after buying an additional 600 shares during the period. MCF Advisors LLC raised its position in shares of Cincinnati Financial by 2.4% in the first quarter. MCF Advisors LLC now owns 2,243 shares of the insurance provider’s stock worth $162,000 after buying an additional 52 shares during the period. Finally, First Manhattan Co. raised its position in shares of Cincinnati Financial by 36.2% in the first quarter. First Manhattan Co. now owns 2,437 shares of the insurance provider’s stock worth $183,000 after buying an additional 648 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.
Shares of Cincinnati Financial Co. (CINF) traded down 0.54% during midday trading on Monday, hitting $70.34. The stock had a trading volume of 467,303 shares. The stock has a 50-day moving average of $70.32 and a 200 day moving average of $72.75. The stock has a market cap of $11.58 billion, a PE ratio of 19.37 and a beta of 0.81. Cincinnati Financial Co. has a 52 week low of $68.11 and a 52 week high of $79.60.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Cincinnati Financial had a net margin of 10.85% and a return on equity of 7.33%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the firm earned $1.13 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts anticipate that Cincinnati Financial Co. will post $2.80 EPS for the current fiscal year.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.84%. Cincinnati Financial’s payout ratio is presently 54.08%.
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CINF has been the subject of a number of research analyst reports. Royal Bank of Canada restated a “hold” rating and issued a $72.00 target price on shares of Cincinnati Financial in a research report on Monday, May 22nd. Zacks Investment Research downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Keefe, Bruyette & Woods set a $70.00 target price on Cincinnati Financial and gave the stock a “hold” rating in a research report on Wednesday, March 22nd. Finally, MKM Partners restated a “buy” rating and issued a $90.00 target price on shares of Cincinnati Financial in a research report on Friday, February 10th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Cincinnati Financial currently has a consensus rating of “Hold” and an average price target of $78.75.
In other Cincinnati Financial news, Director David P. Osborn acquired 1,925 shares of Cincinnati Financial stock in a transaction on Monday, May 8th. The shares were purchased at an average cost of $70.00 per share, with a total value of $134,750.00. Following the completion of the purchase, the director now owns 21,542 shares in the company, valued at $1,507,940. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.22% of the stock is currently owned by company insiders.
Cincinnati Financial Company Profile
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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