Credit Suisse AG boosted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 268,747 shares of the insurance provider’s stock after acquiring an additional 11,949 shares during the period. Credit Suisse AG’s holdings in Cincinnati Financial were worth $20,643,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of CINF. Janney Montgomery Scott LLC lifted its position in Cincinnati Financial by 25.0% during the second quarter. Janney Montgomery Scott LLC now owns 20,624 shares of the insurance provider’s stock valued at $1,379,000 after acquiring an additional 4,129 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Cincinnati Financial during the second quarter valued at approximately $214,000. Dupont Capital Management Corp lifted its position in Cincinnati Financial by 68.3% during the second quarter. Dupont Capital Management Corp now owns 2,498 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 1,014 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Cincinnati Financial by 2.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,870 shares of the insurance provider’s stock valued at $1,797,000 after acquiring an additional 708 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Cincinnati Financial by 42.0% during the second quarter. Commonwealth Equity Services LLC now owns 25,750 shares of the insurance provider’s stock valued at $1,722,000 after acquiring an additional 7,614 shares during the last quarter. 63.18% of the stock is owned by institutional investors.
A number of research firms recently commented on CINF. BidaskClub raised shares of Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 15th. Zacks Investment Research cut shares of Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Credit Suisse Group initiated coverage on shares of Cincinnati Financial in a report on Tuesday, August 7th. They issued an “underperform” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Cincinnati Financial presently has a consensus rating of “Hold” and a consensus target price of $77.00.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.09. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Cincinnati Financial had a net margin of 22.61% and a return on equity of 6.70%. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 3.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, December 19th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, December 18th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.59%. Cincinnati Financial’s dividend payout ratio is currently 77.37%.
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Cincinnati Financial Company Profile
Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
Further Reading: Federal Reserve
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