Shell Asset Management Co. increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 47.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,953 shares of the insurance provider’s stock after acquiring an additional 7,018 shares during the period. Shell Asset Management Co.’s holdings in Cincinnati Financial Corporation were worth $1,033,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CINF. OppenheimerFunds Inc. grew its position in Cincinnati Financial Corporation by 15.1% during the 1st quarter. OppenheimerFunds Inc. now owns 10,677 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 1,399 shares during the last quarter. Teachers Advisors LLC grew its position in Cincinnati Financial Corporation by 6.1% during the 1st quarter. Teachers Advisors LLC now owns 196,758 shares of the insurance provider’s stock worth $14,220,000 after acquiring an additional 11,279 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Cincinnati Financial Corporation by 5.6% during the 1st quarter. Thrivent Financial For Lutherans now owns 5,498 shares of the insurance provider’s stock worth $397,000 after acquiring an additional 290 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Cincinnati Financial Corporation during the 1st quarter worth $311,000. Finally, Marshall Wace North America L.P. bought a new stake in Cincinnati Financial Corporation during the 1st quarter worth $311,000. Institutional investors and hedge funds own 62.85% of the company’s stock.
Shares of Cincinnati Financial Corporation (NASDAQ CINF) opened at 70.17 on Wednesday. The firm has a 50 day moving average price of $75.90 and a 200-day moving average price of $74.00. Cincinnati Financial Corporation has a 52-week low of $68.11 and a 52-week high of $81.98. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 20.11 and a beta of 0.90.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. Cincinnati Financial Corporation had a return on equity of 5.85% and a net margin of 8.93%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate that Cincinnati Financial Corporation will post $2.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, September 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.85%. Cincinnati Financial Corporation’s dividend payout ratio (DPR) is currently 66.23%.
CINF has been the topic of a number of research reports. BidaskClub upgraded Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $70.00 price objective on shares of Cincinnati Financial Corporation in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Cincinnati Financial Corporation presently has a consensus rating of “Hold” and a consensus target price of $79.25.
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Cincinnati Financial Corporation 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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