Fairpointe Capital LLC raised its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 98.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 471,066 shares of the insurance provider’s stock after buying an additional 233,867 shares during the period. Fairpointe Capital LLC owned approximately 0.29% of Cincinnati Financial worth $34,044,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of CINF. Dynamic Capital Management Ltd purchased a new stake in shares of Cincinnati Financial during the third quarter worth approximately $2,825,000. Donaldson Capital Management LLC boosted its stake in shares of Cincinnati Financial by 8.1% in the third quarter. Donaldson Capital Management LLC now owns 6,254 shares of the insurance provider’s stock worth $472,000 after buying an additional 469 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Cincinnati Financial by 58.6% in the third quarter. Johnson Investment Counsel Inc. now owns 940,445 shares of the insurance provider’s stock worth $70,928,000 after buying an additional 347,375 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake 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 last quarter. Finally, Peninsula Asset Management Inc. boosted its stake in shares of Cincinnati Financial by 4.6% in the third quarter. Peninsula Asset Management Inc. now owns 46,604 shares of the insurance provider’s stock worth $3,515,000 after buying an additional 2,049 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.
Shares of Cincinnati Financial Co. (NASDAQ:CINF) traded up 1.14% during midday trading on Thursday, hitting $70.35. 126,968 shares of the stock were exchanged. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 19.37 and a beta of 0.81. Cincinnati Financial Co. has a one year low of $68.11 and a one year high of $79.60. The firm has a 50 day moving average of $70.24 and a 200-day moving average of $72.67.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.05. Cincinnati Financial had a return on equity of 7.33% and a net margin of 10.85%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. Cincinnati Financial’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts expect that Cincinnati Financial Co. will post $2.80 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Wednesday, June 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Monday, June 19th. Cincinnati Financial’s dividend payout ratio is presently 54.08%.
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A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $72.00 price objective on shares of Cincinnati Financial in a research note on Monday, May 22nd. Zacks Investment Research cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. Keefe, Bruyette & Woods set a $70.00 price objective on shares of Cincinnati Financial and gave the stock a “hold” rating in a research note on Wednesday, March 22nd. Finally, MKM Partners reaffirmed a “buy” rating and set a $90.00 price objective on shares of Cincinnati Financial in a research note on Friday, February 10th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $78.75.
In other Cincinnati Financial news, Director David P. Osborn acquired 1,925 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were purchased at an average price of $70.00 per share, with a total value of $134,750.00. Following the completion of the acquisition, the director now directly owns 21,542 shares of the company’s stock, valued at approximately $1,507,940. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.22% of the company’s stock.
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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