American International Group Inc. boosted its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 6.5% during the third quarter, HoldingsChannel reports. The firm owned 67,432 shares of the insurance provider’s stock after buying an additional 4,098 shares during the period. American International Group Inc.’s holdings in Cincinnati Financial were worth $5,179,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its holdings in Cincinnati Financial by 25.0% during the second quarter. Janney Montgomery Scott LLC now owns 20,624 shares of the insurance provider’s stock worth $1,379,000 after purchasing an additional 4,129 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in Cincinnati Financial during the second quarter worth approximately $214,000. Dupont Capital Management Corp grew its position in Cincinnati Financial by 68.3% in the second quarter. Dupont Capital Management Corp now owns 2,498 shares of the insurance provider’s stock worth $167,000 after buying an additional 1,014 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Cincinnati Financial by 2.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,870 shares of the insurance provider’s stock worth $1,797,000 after buying an additional 708 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Cincinnati Financial by 42.0% in the second quarter. Commonwealth Equity Services LLC now owns 25,750 shares of the insurance provider’s stock worth $1,722,000 after buying an additional 7,614 shares during the last quarter. 63.18% of the stock is currently owned by institutional investors and hedge funds.
Cincinnati Financial stock opened at $80.55 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $13.26 billion, a price-to-earnings ratio of 29.08 and a beta of 0.69. Cincinnati Financial Co. has a 1 year low of $66.33 and a 1 year high of $82.86.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. Cincinnati Financial had a net margin of 22.61% and a return on equity of 6.70%. Sell-side analysts predict that Cincinnati Financial Co. will post 3.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, December 19th will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, December 18th. This represents a $2.12 annualized dividend and a yield of 2.63%. Cincinnati Financial’s dividend payout ratio (DPR) is 77.37%.
Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 25th. BidaskClub upgraded shares of Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 15th. Finally, ValuEngine upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.00.
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About Cincinnati Financial
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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