Legacy Advisors LLC purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,006 shares of the insurance provider's stock, valued at approximately $447,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in Cincinnati Financial in the 4th quarter worth $223,959,000. GAMMA Investing LLC boosted its stake in shares of Cincinnati Financial by 15,698.7% during the 1st quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock worth $120,540,000 after acquiring an additional 810,840 shares in the last quarter. Topsail Wealth Management LLC purchased a new position in Cincinnati Financial in the 4th quarter valued at about $47,114,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in Cincinnati Financial by 62.6% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock valued at $90,166,000 after acquiring an additional 241,540 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Cincinnati Financial by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock valued at $863,099,000 after purchasing an additional 224,033 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.40.
Get Our Latest Stock Report on CINF
Cincinnati Financial Stock Performance
Shares of CINF stock traded up $2.04 during trading on Thursday, reaching $145.76. The company had a trading volume of 336,646 shares, compared to its average volume of 659,126. Cincinnati Financial Corporation has a one year low of $113.70 and a one year high of $161.75. The company has a market capitalization of $22.78 billion, a PE ratio of 15.90, a PEG ratio of 9.74 and a beta of 0.78. The firm's 50 day simple moving average is $144.80 and its two-hundred day simple moving average is $142.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business posted $1.72 earnings per share. The company's revenue was up 13.2% on a year-over-year basis. Sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.
Cincinnati Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, June 23rd. Cincinnati Financial's payout ratio is 37.95%.
About Cincinnati Financial
(
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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