Victory Capital Management Inc. lessened its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,098 shares of the insurance provider's stock after selling 21,981 shares during the quarter. Victory Capital Management Inc. owned about 0.18% of Cincinnati Financial worth $42,558,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of CINF. Norges Bank bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $223,959,000. GAMMA Investing LLC grew its position 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 worth $120,540,000 after purchasing an additional 810,840 shares during the last quarter. Topsail Wealth Management LLC purchased a new stake in Cincinnati Financial during the 4th quarter worth approximately $47,114,000. Caisse DE Depot ET Placement DU Quebec grew 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 purchasing an additional 241,540 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Cincinnati Financial by 26.7% during the 4th quarter. First Trust Advisors LP now owns 980,582 shares of the insurance provider's stock worth $140,910,000 after purchasing an additional 206,693 shares during the last quarter. Institutional investors own 65.24% of the company's stock.
Cincinnati Financial Price Performance
Shares of NASDAQ:CINF traded up $1.70 during midday trading on Friday, hitting $150.73. The company's stock had a trading volume of 699,338 shares, compared to its average volume of 646,500. The business's 50 day simple moving average is $147.90 and its 200 day simple moving average is $142.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $23.56 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 10.01 and a beta of 0.76. Cincinnati Financial Corporation has a 12-month low of $115.43 and a 12-month high of $161.75.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the business posted $1.72 EPS. Cincinnati Financial's revenue was up 13.2% on a year-over-year basis. On average, analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.
Cincinnati Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 23rd were issued a $0.87 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.31%. Cincinnati Financial's dividend payout ratio (DPR) is presently 37.95%.
Wall Street Analysts Forecast Growth
CINF has been the topic of several recent research reports. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $150.00 to $167.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.25.
Check Out Our Latest Research Report 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.
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