IFP Advisors Inc decreased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,709 shares of the insurance provider’s stock after selling 174 shares during the period. IFP Advisors Inc’s holdings in Cincinnati Financial Corporation were worth $1,428,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in CINF. Vanguard Group Inc. increased its stake in Cincinnati Financial Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 16,618,471 shares of the insurance provider’s stock worth $1,201,018,000 after buying an additional 813,206 shares in the last quarter. BlackRock Inc. increased its stake in Cincinnati Financial Corporation by 1,893.0% in the first quarter. BlackRock Inc. now owns 13,125,725 shares of the insurance provider’s stock worth $948,595,000 after buying an additional 12,467,118 shares in the last quarter. State Street Corp increased its stake in Cincinnati Financial Corporation by 3.4% in the first quarter. State Street Corp now owns 10,068,325 shares of the insurance provider’s stock worth $727,642,000 after buying an additional 329,902 shares in the last quarter. Bank of America Corp DE increased its stake in Cincinnati Financial Corporation by 2.4% in the first quarter. Bank of America Corp DE now owns 6,307,619 shares of the insurance provider’s stock worth $455,852,000 after buying an additional 149,473 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Cincinnati Financial Corporation by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 2,900,223 shares of the insurance provider’s stock worth $209,600,000 after buying an additional 161,845 shares in the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cincinnati Financial Corporation (NASDAQ:CINF) traded down 0.40% during mid-day trading on Friday, hitting $77.34. The company’s stock had a trading volume of 684,003 shares. The stock has a market cap of $12.68 billion, a PE ratio of 22.16 and a beta of 0.89. The company has a 50-day moving average price of $75.72 and a 200-day moving average price of $72.65. Cincinnati Financial Corporation has a 1-year low of $68.11 and a 1-year high of $81.98.
Cincinnati Financial Corporation (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.18. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. Cincinnati Financial Corporation had a net margin of 10.33% and a return on equity of 6.57%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. Analysts predict that Cincinnati Financial Corporation will post $2.90 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.59%. Cincinnati Financial Corporation’s dividend payout ratio (DPR) is presently 57.31%.
A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $70.00 target price on shares of Cincinnati Financial Corporation in a research report on Friday. BidaskClub lowered Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $72.00 price target on shares of Cincinnati Financial Corporation in a report on Monday, May 22nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $78.75.
About Cincinnati Financial Corporation
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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