D. E. Shaw & Co. Inc. lowered its holdings in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 58.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,582 shares of the insurance provider's stock after selling 46,826 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Cincinnati Financial were worth $4,826,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors grew its position in shares of Cincinnati Financial by 13.6% in the fourth quarter. Captrust Financial Advisors now owns 17,685 shares of the insurance provider's stock valued at $2,541,000 after purchasing an additional 2,122 shares during the period. New York Life Investment Management LLC grew its position in shares of Cincinnati Financial by 11.5% in the fourth quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider's stock valued at $3,322,000 after purchasing an additional 2,383 shares during the period. Proficio Capital Partners LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $4,935,000. AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of Cincinnati Financial by 25.0% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 352,458 shares of the insurance provider's stock worth $50,652,000 after buying an additional 70,408 shares during the period. Finally, Aviva PLC boosted its position in shares of Cincinnati Financial by 68.0% in the fourth quarter. Aviva PLC now owns 9,731 shares of the insurance provider's stock worth $1,398,000 after buying an additional 3,938 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.
Cincinnati Financial Stock Down 0.5%
CINF traded down $0.78 on Tuesday, reaching $150.17. The company's stock had a trading volume of 384,273 shares, compared to its average volume of 665,478. Cincinnati Financial Co. has a 1 year low of $111.92 and a 1 year high of $161.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The stock has a market cap of $23.47 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 8.30 and a beta of 0.73. The business's 50 day moving average is $140.66 and its 200 day moving average is $143.13.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.61) by $0.37. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm posted $1.72 EPS. The firm's revenue was up 13.2% compared to the same quarter last year. As a group, research analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial's dividend payout ratio is presently 37.95%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on CINF. Roth Mkm upped their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods decreased their target price on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, StockNews.com raised Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average price target of $147.40.
Get Our Latest Report on Cincinnati Financial
Cincinnati Financial Profile
(
Free Report)
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.
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