DnB Asset Management AS Has $3.06 Million Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

DnB Asset Management AS grew its position in Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 1.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,698 shares of the insurance provider’s stock after buying an additional 287 shares during the period. DnB Asset Management AS’s holdings in Cincinnati Financial were worth $3,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CINF. Covestor Ltd acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth $26,000. Hardy Reed LLC acquired a new stake in shares of Cincinnati Financial during the first quarter worth $43,000. NuWave Investment Management LLC acquired a new stake in shares of Cincinnati Financial during the second quarter worth $40,000. Tcwp LLC acquired a new stake in shares of Cincinnati Financial during the first quarter worth $57,000. Finally, Monetary Management Group Inc. acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth $57,000. 64.52% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

CINF stock opened at $97.03 on Wednesday. The business’s 50-day moving average price is $102.87 and its two-hundred day moving average price is $118.51. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.08. The firm has a market cap of $15.45 billion, a PE ratio of 29.88 and a beta of 0.54. Cincinnati Financial Co. has a 1-year low of $93.41 and a 1-year high of $143.22.

Cincinnati Financial (NASDAQ:CINFGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The insurance provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.40). The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $1.96 billion. Cincinnati Financial had a net margin of 7.59% and a return on equity of 7.45%. The business’s revenue for the quarter was down 64.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.79 earnings per share. As a group, research analysts forecast that Cincinnati Financial Co. will post 5.05 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 16th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.84%. Cincinnati Financial’s dividend payout ratio (DPR) is 85.71%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TheStreet lowered Cincinnati Financial from a “b” rating to a “c+” rating in a report on Wednesday, July 27th. StockNews.com lowered Cincinnati Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd.

Insider Activity

In other news, Director Dirk J. Debbink purchased 510 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were bought at an average cost of $96.66 per share, for a total transaction of $49,296.60. Following the completion of the acquisition, the director now directly owns 44,243 shares in the company, valued at approximately $4,276,528.38. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Dirk J. Debbink purchased 510 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were bought at an average cost of $96.66 per share, for a total transaction of $49,296.60. Following the completion of the acquisition, the director now directly owns 44,243 shares in the company, valued at approximately $4,276,528.38. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas J. Aaron purchased 1,030 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average price of $96.33 per share, for a total transaction of $99,219.90. Following the completion of the acquisition, the director now owns 5,740 shares of the company’s stock, valued at $552,934.20. The disclosure for this purchase can be found here. Corporate insiders own 2.95% of the company’s stock.

Cincinnati Financial Company Profile

(Get Rating)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

See Also

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

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