Huntington National Bank decreased its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 335,164 shares of the insurance provider’s stock after selling 1,128 shares during the period. Huntington National Bank owned approximately 0.20% of Cincinnati Financial Corporation worth $24,283,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Clarius Group LLC acquired a new stake in shares of Cincinnati Financial Corporation during the first quarter worth $130,000. MCF Advisors LLC boosted its stake in shares of Cincinnati Financial Corporation by 2.4% in the first quarter. MCF Advisors LLC now owns 2,243 shares of the insurance provider’s stock worth $162,000 after buying an additional 52 shares in the last quarter. First Manhattan Co. boosted its stake in Cincinnati Financial Corporation by 36.2% in the first quarter. First Manhattan Co. now owns 2,437 shares of the insurance provider’s stock valued at $183,000 after buying an additional 648 shares during the period. Pacer Advisors Inc. boosted its stake in Cincinnati Financial Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,916 shares of the insurance provider’s stock valued at $211,000 after buying an additional 88 shares during the period. Finally, Beese Fulmer Investment Management Inc. boosted its stake in Cincinnati Financial Corporation by 3.4% in the second quarter. Beese Fulmer Investment Management Inc. now owns 3,057 shares of the insurance provider’s stock valued at $221,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 63.07% of the company’s stock.
Cincinnati Financial Corporation (NASDAQ CINF) traded up 4.59% during trading on Thursday, reaching $80.74. 523,360 shares of the company’s stock traded hands. Cincinnati Financial Corporation has a 12 month low of $68.11 and a 12 month high of $81.98. The company has a 50-day moving average of $73.22 and a 200 day moving average of $71.86. The stock has a market capitalization of $13.30 billion, a P/E ratio of 22.24 and a beta of 0.89.
Cincinnati Financial Corporation (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.18. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. Cincinnati Financial Corporation had a return on equity of 6.49% and a net margin of 10.77%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. On average, equities research analysts expect that Cincinnati Financial Corporation will post $2.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Wednesday, June 21st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Monday, June 19th. Cincinnati Financial Corporation’s payout ratio is presently 55.10%.
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Several analysts have recently commented on the stock. BidaskClub upgraded shares of Cincinnati Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut shares of Cincinnati Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Keefe, Bruyette & Woods set a $70.00 target price on shares of Cincinnati Financial Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $72.00 price objective on shares of Cincinnati Financial Corporation in a research note on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $78.75.
In other Cincinnati Financial Corporation news, Director David P. Osborn bought 1,925 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average cost of $70.00 per share, with a total value of $134,750.00. Following the acquisition, the director now owns 21,542 shares of the company’s stock, valued at $1,507,940. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.25% of the stock is currently owned by insiders.
Cincinnati Financial Corporation Company Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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