American International Group Inc. raised its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,432 shares of the insurance provider’s stock after purchasing an additional 4,098 shares during the quarter. American International Group Inc.’s holdings in Cincinnati Financial were worth $5,179,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Glen Harbor Capital Management LLC lifted its holdings in Cincinnati Financial by 4.9% during the second quarter. Glen Harbor Capital Management LLC now owns 15,114 shares of the insurance provider’s stock valued at $1,010,000 after purchasing an additional 704 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Cincinnati Financial by 2.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,870 shares of the insurance provider’s stock valued at $1,797,000 after purchasing an additional 708 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Cincinnati Financial by 3.5% during the third quarter. Janney Montgomery Scott LLC now owns 21,350 shares of the insurance provider’s stock valued at $1,640,000 after purchasing an additional 726 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Cincinnati Financial by 98.5% in the third quarter. Trust Co. of Vermont now owns 1,465 shares of the insurance provider’s stock worth $113,000 after buying an additional 727 shares in the last quarter. Finally, ING Groep NV lifted its holdings in shares of Cincinnati Financial by 4.9% in the second quarter. ING Groep NV now owns 15,994 shares of the insurance provider’s stock worth $1,069,000 after buying an additional 747 shares in the last quarter. 63.18% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on CINF. BidaskClub raised shares of Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 15th. Zacks Investment Research downgraded shares of Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 25th. Finally, ValuEngine raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $77.00.
Shares of Cincinnati Financial stock opened at $80.55 on Friday. Cincinnati Financial Co. has a 12-month low of $66.33 and a 12-month high of $82.86. The stock has a market capitalization of $13.26 billion, a PE ratio of 29.08 and a beta of 0.69. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.10.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Cincinnati Financial had a net margin of 22.61% and a return on equity of 6.70%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, analysts anticipate that Cincinnati Financial Co. will post 3.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, December 19th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, December 18th. Cincinnati Financial’s payout ratio is 77.37%.
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Cincinnati Financial 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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