US Bancorp DE reduced its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF – Free Report) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 531,510 shares of the insurance provider’s stock after selling 8,290 shares during the period. US Bancorp DE owned 0.34% of Cincinnati Financial worth $51,727,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of CINF. American Century Companies Inc. raised its holdings in Cincinnati Financial by 14.4% in the 1st quarter. American Century Companies Inc. now owns 12,234 shares of the insurance provider’s stock valued at $1,663,000 after acquiring an additional 1,536 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Cincinnati Financial in the 1st quarter valued at $779,000. Cibc World Market Inc. acquired a new position in Cincinnati Financial in the 1st quarter valued at $713,000. Blair William & Co. IL raised its holdings in Cincinnati Financial by 12.1% in the 1st quarter. Blair William & Co. IL now owns 3,319 shares of the insurance provider’s stock valued at $451,000 after acquiring an additional 357 shares during the last quarter. Finally, Aviva PLC grew its stake in shares of Cincinnati Financial by 56.5% during the 1st quarter. Aviva PLC now owns 92,169 shares of the insurance provider’s stock valued at $12,531,000 after buying an additional 33,270 shares during the period. 64.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on CINF shares. Oppenheimer started coverage on shares of Cincinnati Financial in a research note on Thursday. They set a “market perform” rating for the company. TheStreet cut shares of Cincinnati Financial from a “b” rating to a “c+” rating in a research note on Thursday, October 26th. StockNews.com assumed coverage on shares of Cincinnati Financial in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, Piper Sandler upped their price target on shares of Cincinnati Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $116.33.
In related news, Director Nancy Cunningham Benacci bought 1,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were acquired at an average price of $106.57 per share, for a total transaction of $106,570.00. Following the purchase, the director now owns 3,702 shares in the company, valued at approximately $394,522.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.84% of the company’s stock.
Cincinnati Financial Stock Up 0.2 %
Cincinnati Financial stock traded up $0.17 during trading on Thursday, reaching $101.55. 50,216 shares of the company’s stock were exchanged, compared to its average volume of 681,338. Cincinnati Financial Co. has a 52-week low of $95.01 and a 52-week high of $130.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $15.93 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.00 and a beta of 0.64. The company’s 50-day moving average is $102.56 and its two-hundred day moving average is $102.53.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its quarterly earnings data on Friday, October 27th. The insurance provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.59. Cincinnati Financial had a net margin of 17.12% and a return on equity of 7.41%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The firm’s revenue was up 28.4% compared to the same quarter last year. On average, analysts predict that Cincinnati Financial Co. will post 5.45 earnings per share for the current year.
Cincinnati Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, September 18th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.95%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 28.38%.
Cincinnati Financial Company Profile
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.
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