BlueCrest Capital Management Ltd grew its stake in shares of Cincinnati Financial (NASDAQ:CINF) by 257.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 39,601 shares of the insurance provider’s stock after buying an additional 28,529 shares during the period. BlueCrest Capital Management Ltd’s holdings in Cincinnati Financial were worth $2,969,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in CINF. Aperio Group LLC raised its position in shares of Cincinnati Financial by 3.7% during the third quarter. Aperio Group LLC now owns 43,007 shares of the insurance provider’s stock valued at $3,293,000 after buying an additional 1,536 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Cincinnati Financial by 12,727.3% during the third quarter. Canada Pension Plan Investment Board now owns 1,411 shares of the insurance provider’s stock valued at $108,000 after buying an additional 1,400 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Cincinnati Financial by 3.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,364 shares of the insurance provider’s stock valued at $2,172,000 after buying an additional 1,077 shares during the last quarter. Swiss National Bank raised its position in shares of Cincinnati Financial by 1.1% during the third quarter. Swiss National Bank now owns 576,432 shares of the insurance provider’s stock valued at $44,137,000 after buying an additional 6,400 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Cincinnati Financial by 109.2% during the third quarter. Bessemer Group Inc. now owns 7,881 shares of the insurance provider’s stock valued at $603,000 after buying an additional 4,113 shares during the last quarter. 63.34% of the stock is owned by institutional investors and hedge funds.
NASDAQ:CINF traded down $1.89 during mid-day trading on Monday, hitting $72.37. The company’s stock had a trading volume of 495,502 shares, compared to its average volume of 629,573. Cincinnati Financial has a fifty-two week low of $68.49 and a fifty-two week high of $81.98. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $12,185.30, a PE ratio of 26.41 and a beta of 0.84.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Cincinnati Financial had a net margin of 18.23% and a return on equity of 5.99%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. research analysts expect that Cincinnati Financial will post 3.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Wednesday, March 21st will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.93%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, March 20th. Cincinnati Financial’s dividend payout ratio is currently 77.37%.
A number of research analysts have recently commented on CINF shares. Zacks Investment Research raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, January 15th. BidaskClub raised shares of Cincinnati Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 30th. Royal Bank of Canada reissued a “hold” rating on shares of Cincinnati Financial in a research report on Thursday, February 8th. Finally, Langen Mcalenn reissued a “neutral” rating on shares of Cincinnati Financial in a research report on Tuesday, January 16th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $74.67.
In other news, Director Douglas S. Skidmore acquired 650 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $70.65 per share, with a total value of $45,922.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.07% of the stock is currently owned by corporate insiders.
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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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