Northeast Financial Consultants Inc bought a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 1st quarter, Holdings Channel reports. The firm bought 2,410 shares of the insurance provider’s stock, valued at approximately $207,000.
A number of other hedge funds have also made changes to their positions in CINF. Norges Bank purchased a new position in Cincinnati Financial during the 4th quarter worth $107,863,000. BlackRock Inc. grew its stake in Cincinnati Financial by 4.6% during the 4th quarter. BlackRock Inc. now owns 13,530,397 shares of the insurance provider’s stock valued at $1,047,524,000 after purchasing an additional 598,513 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Cincinnati Financial by 745.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 631,180 shares of the insurance provider’s stock valued at $54,218,000 after purchasing an additional 556,489 shares during the last quarter. First Trust Advisors LP grew its stake in Cincinnati Financial by 80.8% during the 1st quarter. First Trust Advisors LP now owns 1,102,521 shares of the insurance provider’s stock valued at $94,707,000 after purchasing an additional 492,556 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Cincinnati Financial by 132.1% during the 1st quarter. Janus Henderson Group PLC now owns 698,135 shares of the insurance provider’s stock valued at $59,970,000 after purchasing an additional 397,299 shares during the last quarter. Hedge funds and other institutional investors own 63.19% of the company’s stock.
Several analysts have weighed in on CINF shares. BidaskClub downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Zacks Investment Research downgraded Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Credit Suisse Group upgraded Cincinnati Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $90.00 to $110.00 in a research note on Friday, May 17th. Finally, MKM Partners reiterated a “buy” rating and set a $120.00 price target (up previously from $100.00) on shares of Cincinnati Financial in a research note on Friday, May 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $101.75.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Cincinnati Financial had a return on equity of 7.35% and a net margin of 15.97%. The company’s revenue for the quarter was up 76.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, research analysts forecast that Cincinnati Financial Co. will post 3.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, June 19th will be issued a $0.56 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $2.24 annualized dividend and a dividend yield of 2.16%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.87%.
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Cincinnati Financial Company Profile
Cincinnati Financial Corporation, together with its subsidiary, 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: Asset Allocation and Your Retirement
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