Comerica Bank lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,576 shares of the insurance provider’s stock after selling 2,017 shares during the period. Comerica Bank’s holdings in Cincinnati Financial were worth $5,603,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Seven Eight Capital LP purchased a new position in shares of Cincinnati Financial in the 2nd quarter worth about $101,000. Korea Investment CORP raised its holdings in shares of Cincinnati Financial by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 852 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Cincinnati Financial by 12,727.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,411 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 1,400 shares during the period. People s United Financial Inc. raised its holdings in shares of Cincinnati Financial by 6.5% in the 2nd quarter. People s United Financial Inc. now owns 1,802 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 110 shares during the period. Finally, San Francisco Sentry Investment Group CA purchased a new position in shares of Cincinnati Financial in the 2nd quarter worth about $152,000. 64.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cincinnati Financial Co. (CINF) traded down $0.30 during trading hours on Thursday, hitting $74.16. The company had a trading volume of 409,462 shares, compared to its average volume of 524,432. The stock has a market cap of $12,203.66, a P/E ratio of 29.06 and a beta of 0.93. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11. Cincinnati Financial Co. has a 1-year low of $68.24 and a 1-year high of $81.98.
Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 26th. The insurance provider reported $0.58 EPS for the quarter, beating the 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 business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $0.86 EPS. The company’s revenue was up .7% on a year-over-year basis. equities research analysts expect that Cincinnati Financial Co. will post 2.65 EPS for the current year.
The firm also recently disclosed a special dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, November 30th. This is an increase from Cincinnati Financial’s previous special dividend of $0.46. This represents a yield of 2.72%. Cincinnati Financial’s payout ratio is currently 66.23%.
CINF has been the topic of a number of research reports. BidaskClub upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $70.00 target price on shares of Cincinnati Financial in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $79.25.
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Cincinnati Financial 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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