Commonwealth Bank of Australia increased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 18.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,107 shares of the insurance provider’s stock after acquiring an additional 2,196 shares during the quarter. Commonwealth Bank of Australia’s holdings in Cincinnati Financial were worth $1,074,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Cincinnati Financial by 2.2% in the second quarter. JPMorgan Chase & Co. now owns 2,962,990 shares of the insurance provider’s stock worth $214,669,000 after acquiring an additional 62,767 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Cincinnati Financial by 1.2% in the second quarter. Prudential Financial Inc. now owns 226,607 shares of the insurance provider’s stock worth $16,418,000 after acquiring an additional 2,620 shares in the last quarter. Principal Financial Group Inc. raised its stake in Cincinnati Financial by 1.2% during the second quarter. Principal Financial Group Inc. now owns 229,708 shares of the insurance provider’s stock valued at $16,643,000 after buying an additional 2,762 shares in the last quarter. Schulhoff & Co. Inc. raised its stake in Cincinnati Financial by 0.3% during the second quarter. Schulhoff & Co. Inc. now owns 63,477 shares of the insurance provider’s stock valued at $4,598,000 after buying an additional 200 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Cincinnati Financial by 19.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,267 shares of the insurance provider’s stock valued at $2,845,000 after buying an additional 6,440 shares in the last quarter. Institutional investors and hedge funds own 64.55% of the company’s stock.
Several analysts have issued reports on CINF shares. Zacks Investment Research cut Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. BidaskClub upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $70.00 price objective on shares of Cincinnati Financial in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $79.25.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Cincinnati Financial had a return on equity of 5.85% and a net margin of 8.93%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Cincinnati Financial’s revenue for the quarter was up .7% compared to the same quarter last year. equities research analysts expect that Cincinnati Financial Co. will post 2.65 EPS for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, November 30th. This represents a yield of 2.72%. This is a boost from Cincinnati Financial’s previous special dividend of $0.46. Cincinnati Financial’s dividend payout ratio is presently 66.01%.
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Cincinnati Financial 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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