Park Avenue Securities LLC increased its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,008 shares of the insurance provider's stock after purchasing an additional 2,535 shares during the period. Park Avenue Securities LLC's holdings in Cincinnati Financial were worth $2,956,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at approximately $223,959,000. GAMMA Investing LLC raised its stake in Cincinnati Financial by 15,698.7% during the 1st quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock valued at $120,540,000 after acquiring an additional 810,840 shares in the last quarter. Topsail Wealth Management LLC acquired a new position in Cincinnati Financial during the 4th quarter worth $47,114,000. Caisse DE Depot ET Placement DU Quebec boosted its position in Cincinnati Financial by 62.6% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock worth $90,166,000 after acquiring an additional 241,540 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cincinnati Financial by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock worth $863,099,000 after purchasing an additional 224,033 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.
Cincinnati Financial Price Performance
Shares of CINF traded down $0.06 during mid-day trading on Wednesday, hitting $146.99. The company's stock had a trading volume of 427,193 shares, compared to its average volume of 662,633. Cincinnati Financial Co. has a fifty-two week low of $111.92 and a fifty-two week high of $161.75. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 8.30 and a beta of 0.78. The firm has a 50-day moving average price of $141.50 and a 200 day moving average price of $143.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.37. The company had revenue of $2.34 billion for the quarter, compared to analysts' expectations of $2.70 billion. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. The firm's revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 earnings per share. On average, research analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be given a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.37%. Cincinnati Financial's dividend payout ratio (DPR) is 37.95%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods decreased their target price 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. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Roth Mkm boosted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.40.
Check Out Our Latest Stock Analysis on CINF
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.
Recommended Stories
Before you consider Cincinnati Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cincinnati Financial wasn't on the list.
While Cincinnati Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
