Cincinnati Financial Corporation $CINF Stake Boosted by Czech National Bank

Key Points

• The Czech National Bank increased its holdings in Cincinnati Financial Corporation by 6.4%, owning a total of 38,206 shares valued at approximately $5.69 million.
• Cincinnati Financial reported earnings of $1.97 per share for the recent quarter, exceeding estimates by $0.58, despite revenue falling short of projections.
• The company declared a quarterly dividend of $0.87, which is set to be paid on October 15th, reflecting an annualized yield of 2.2%.

Czech National Bank boosted its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,206 shares of the insurance provider's stock after acquiring an additional 2,284 shares during the quarter. Czech National Bank's holdings in Cincinnati Financial were worth $5,690,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new position in shares of Cincinnati Financial in the second quarter valued at $25,000. Spire Wealth Management boosted its position in Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Cincinnati Financial during the first quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Cincinnati Financial during the first quarter worth about $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Cincinnati Financial during the first quarter worth about $32,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Down 0.9%

NASDAQ CINF traded down $1.42 on Monday, hitting $154.69. 357,860 shares of the stock traded hands, compared to its average volume of 430,549. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average of $152.08 and a 200 day moving average of $146.58. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $161.74. The company has a market capitalization of $24.19 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 7.64 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The business's revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is 30.18%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CINF. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Roth Capital increased their target price on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It 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.