BlackRock Inc. raised its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,541,195 shares of the insurance provider’s stock after buying an additional 11,169 shares during the quarter. BlackRock Inc. owned about 7.16% of Cincinnati Financial worth $1,318,234,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in Cincinnati Financial by 1.4% in the second quarter. Bank of America Corp DE now owns 3,282,083 shares of the insurance provider’s stock valued at $382,756,000 after buying an additional 44,453 shares during the last quarter. M&T Bank Corp lifted its position in Cincinnati Financial by 7.2% in the second quarter. M&T Bank Corp now owns 43,911 shares of the insurance provider’s stock valued at $5,121,000 after buying an additional 2,958 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Cincinnati Financial by 229.4% in the second quarter. BNP Paribas Arbitrage SA now owns 134,268 shares of the insurance provider’s stock valued at $15,658,000 after buying an additional 93,507 shares during the last quarter. Evermay Wealth Management LLC acquired a new position in Cincinnati Financial in the second quarter valued at about $59,000. Finally, APG Asset Management N.V. lifted its position in Cincinnati Financial by 8.9% in the second quarter. APG Asset Management N.V. now owns 430,125 shares of the insurance provider’s stock valued at $42,298,000 after buying an additional 35,200 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors.
CINF has been the topic of several research reports. Royal Bank of Canada cut shares of Cincinnati Financial from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $135.00 to $130.00 in a research report on Thursday, December 9th. Zacks Investment Research cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Tuesday, December 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Hold” and a consensus target price of $125.67.
Shares of NASDAQ:CINF opened at $119.54 on Friday. The firm’s 50 day moving average price is $117.26 and its 200 day moving average price is $118.36. The stock has a market cap of $19.26 billion, a price-to-earnings ratio of 7.69 and a beta of 0.67. Cincinnati Financial Co. has a fifty-two week low of $83.56 and a fifty-two week high of $127.25. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.08.
Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Wednesday, October 27th. The insurance provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.41. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Cincinnati Financial had a net margin of 28.05% and a return on equity of 8.64%. The firm’s revenue was down 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities analysts anticipate that Cincinnati Financial Co. will post 5.56 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Thursday, December 16th were paid a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 15th. This represents a $2.52 annualized dividend and a yield of 2.11%. Cincinnati Financial’s dividend payout ratio is currently 16.22%.
Cincinnati Financial Company Profile
Cincinnati Financial Corp. provides property casualty and life insurance services. It operates through the following segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment includes commercial casualty, commercial property, commercial auto, worker’s compensation, and other commercial lines insurance.
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