4,054 Shares in Cincinnati Financial Co. (NASDAQ:CINF) Bought by Synovus Financial Corp

Synovus Financial Corp purchased a new position in Cincinnati Financial Co. (NASDAQ:CINF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,054 shares of the insurance provider’s stock, valued at approximately $477,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Cincinnati Financial by 2.0% during the second quarter. Vanguard Group Inc. now owns 18,879,406 shares of the insurance provider’s stock worth $1,957,228,000 after buying an additional 371,070 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Cincinnati Financial by 3.1% during the second quarter. BlackRock Inc. now owns 13,293,456 shares of the insurance provider’s stock worth $1,378,132,000 after buying an additional 398,543 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Cincinnati Financial by 0.6% during the second quarter. Northern Trust Corp now owns 1,967,513 shares of the insurance provider’s stock worth $203,972,000 after buying an additional 11,845 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Cincinnati Financial by 8.5% during the third quarter. California Public Employees Retirement System now owns 1,266,503 shares of the insurance provider’s stock worth $147,763,000 after buying an additional 98,997 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Cincinnati Financial by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 1,152,515 shares of the insurance provider’s stock worth $119,481,000 after buying an additional 31,077 shares in the last quarter. 64.38% of the stock is owned by institutional investors and hedge funds.

CINF has been the topic of several recent research reports. MKM Partners boosted their price target on shares of Cincinnati Financial from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, October 25th. BidaskClub cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Cincinnati Financial to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. Buckingham Research boosted their price target on shares of Cincinnati Financial from $92.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, ValuEngine lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $109.40.

NASDAQ:CINF traded down $0.33 on Friday, reaching $108.70. 481,400 shares of the company’s stock were exchanged, compared to its average volume of 673,625. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 32.45 and a beta of 0.61. Cincinnati Financial Co. has a 52-week low of $71.21 and a 52-week high of $118.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $114.04 and a 200-day moving average of $106.82.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.19. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.53 billion. Cincinnati Financial had a net margin of 14.18% and a return on equity of 7.44%. The firm’s revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 4.04 earnings per share for the current year.

About Cincinnati Financial

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.

Featured Story: Outstanding Shares

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Co. (NASDAQ:CINF).

Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

Receive News & Ratings for Cincinnati Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit