Caisse DE Depot ET Placement DU Quebec reduced its holdings in Cincinnati Financial (NASDAQ:CINF) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,247 shares of the insurance provider’s stock after selling 8,208 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Cincinnati Financial were worth $1,443,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board grew its position in shares of Cincinnati Financial by 12,727.3% in the third quarter. Canada Pension Plan Investment Board now owns 1,411 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 1,400 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at about $139,000. Centiva Capital LP acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at about $201,000. Magnetar Financial LLC acquired a new stake in shares of Cincinnati Financial in the third quarter valued at about $219,000. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at about $225,000. 63.34% of the stock is currently owned by institutional investors.
CINF stock traded down $1.35 during trading on Friday, reaching $73.00. 740,858 shares of the stock were exchanged, compared to its average volume of 621,223. Cincinnati Financial has a twelve month low of $68.49 and a twelve month high of $81.98. The company has a market cap of $12,200.07, a PE ratio of 26.64 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.10.
Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Wednesday, February 7th. The insurance provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Cincinnati Financial had a return on equity of 5.99% and a net margin of 18.23%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. equities research analysts anticipate that Cincinnati Financial will post 3.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Wednesday, March 21st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.90%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, March 20th. Cincinnati Financial’s payout ratio is presently 77.37%.
A number of equities research analysts recently weighed in on CINF shares. Zacks Investment Research raised Cincinnati Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, December 13th. BidaskClub downgraded Cincinnati Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Langen Mcalenn reissued a “neutral” rating on shares of Cincinnati Financial in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Cincinnati Financial in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Cincinnati Financial has an average rating of “Hold” and an average price target of $74.67.
In related news, Director Douglas S. Skidmore acquired 650 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $70.65 per share, with a total value of $45,922.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.25% of the stock is currently owned by insiders.
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Cincinnati Financial Company Profile
Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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