Kayne Anderson Rudnick Investment Management LLC raised its position in Cincinnati Financial Co. (NASDAQ:CINF) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,485 shares of the insurance provider’s stock after buying an additional 8,263 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Cincinnati Financial were worth $5,456,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in CINF. LMR Partners LLP increased its position in Cincinnati Financial by 168.3% in the third quarter. LMR Partners LLP now owns 14,375 shares of the insurance provider’s stock valued at $1,084,000 after buying an additional 9,018 shares during the last quarter. Investment Partners Ltd. OH ADV increased its position in Cincinnati Financial by 23.2% in the third quarter. Investment Partners Ltd. OH ADV now owns 6,032 shares of the insurance provider’s stock valued at $455,000 after buying an additional 1,136 shares during the last quarter. First Business Financial Services Inc. acquired a new position in Cincinnati Financial during the third quarter valued at about $494,000. Truepoint Inc. increased its position in Cincinnati Financial by 2.5% in the third quarter. Truepoint Inc. now owns 21,936 shares of the insurance provider’s stock valued at $1,654,000 after buying an additional 540 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC increased its position in Cincinnati Financial by 3.8% in the third quarter. Polaris Greystone Financial Group LLC now owns 192,563 shares of the insurance provider’s stock valued at $14,523,000 after buying an additional 7,083 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.
Shares of Cincinnati Financial Co. (CINF) opened at 71.78 on Friday. The firm has a 50-day moving average of $70.28 and a 200 day moving average of $72.63. Cincinnati Financial Co. has a 12 month low of $68.11 and a 12 month high of $79.60. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 19.77 and a beta of 0.81.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted $1.13 earnings per share. Cincinnati Financial’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect that Cincinnati Financial Co. will post $2.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Wednesday, June 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Monday, June 19th. Cincinnati Financial’s payout ratio is presently 54.08%.
ILLEGAL ACTIVITY NOTICE: “Kayne Anderson Rudnick Investment Management LLC Has $5.46 Million Position in Cincinnati Financial Co. (CINF)” was originally reported by BBNS and is owned by of BBNS. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://baseballnewssource.com/markets/kayne-anderson-rudnick-investment-management-llc-raises-position-in-cincinnati-financial-co-cinf-updated-updated/819932.html.
Several equities research analysts have recently weighed in on CINF shares. Keefe, Bruyette & Woods set a $70.00 price objective on shares of Cincinnati Financial and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Zacks Investment Research cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $72.00 price objective on shares of Cincinnati Financial in a report on Monday, May 22nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Cincinnati Financial presently has a consensus rating of “Hold” and a consensus price target of $78.75.
In other Cincinnati Financial news, Director David P. Osborn bought 1,925 shares of Cincinnati Financial stock in a transaction dated Monday, May 8th. The stock was acquired at an average cost of $70.00 per share, with a total value of $134,750.00. Following the purchase, the director now directly owns 21,542 shares in the company, valued at approximately $1,507,940. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 9.22% of the company’s stock.
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.
Receive News & Ratings for Cincinnati Financial Co. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cincinnati Financial Co. and related companies with our FREE daily email newsletter.