Pacer Advisors Inc. cut its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 58.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,946 shares of the insurance provider's stock after selling 10,973 shares during the period. Pacer Advisors Inc.'s holdings in Cincinnati Financial were worth $1,174,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Park National Corp OH grew its stake in shares of Cincinnati Financial by 0.6% in the first quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock worth $1,874,000 after acquiring an additional 72 shares during the period. Spire Wealth Management grew its position in Cincinnati Financial by 77.6% during the first 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 period. Nissay Asset Management Corp Japan ADV grew its position in Cincinnati Financial by 0.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock valued at $2,871,000 after buying an additional 91 shares during the period. CWA Asset Management Group LLC grew its position in Cincinnati Financial by 4.1% during the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after buying an additional 94 shares during the period. Finally, Brass Tax Wealth Management Inc. grew its position in Cincinnati Financial by 5.2% during the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock valued at $279,000 after buying an additional 94 shares during the period. 65.24% of the stock is currently owned by institutional investors.
Cincinnati Financial Price Performance
NASDAQ:CINF traded down $1.32 during trading hours on Friday, hitting $146.19. 694,651 shares of the stock traded hands, compared to its average volume of 569,180. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 7.46 and a beta of 0.70. The stock has a 50 day moving average price of $148.04 and a 200 day moving average price of $142.89.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released 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. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The company's quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, June 23rd. Cincinnati Financial's payout ratio is 30.18%.
Analysts Set New Price Targets
Several analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $150.00 to $167.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Roth Capital lifted their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $159.20.
Check Out Our Latest Analysis on Cincinnati Financial
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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