Linscomb & Williams Inc. increased its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,567 shares of the insurance provider’s stock after purchasing an additional 220 shares during the period. Linscomb & Williams Inc.’s holdings in Cincinnati Financial were worth $3,048,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in CINF. Inspire Advisors LLC acquired a new stake in Cincinnati Financial during the fourth quarter worth about $40,000. Grant Street Asset Management Inc. acquired a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $79,000. Leelyn Smith LLC increased its position in shares of Cincinnati Financial by 30.0% during the first quarter. Leelyn Smith LLC now owns 910 shares of the insurance provider’s stock valued at $94,000 after acquiring an additional 210 shares during the last quarter. Vantage Consulting Group Inc acquired a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $102,000. Finally, Hills Bank & Trust Co acquired a new stake in shares of Cincinnati Financial during the first quarter valued at about $103,000. Hedge funds and other institutional investors own 66.91% of the company’s stock.
In related news, Director Charles Odell Schiff sold 10,100 shares of Cincinnati Financial stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $119.82, for a total value of $1,210,182.00. 8.22% of the stock is owned by insiders.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Wednesday, April 28th. The insurance provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.32. Cincinnati Financial had a net margin of 31.05% and a return on equity of 6.04%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm’s quarterly revenue was down 2349.5% on a year-over-year basis. As a group, analysts forecast that Cincinnati Financial Co. will post 4.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Thursday, June 17th will be paid a $0.63 dividend. The ex-dividend date is Wednesday, June 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.07%. Cincinnati Financial’s dividend payout ratio is currently 76.83%.
CINF has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Cincinnati Financial from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, April 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cincinnati Financial from $88.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, May 4th. Zacks Investment Research upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Thursday, February 11th. Finally, MKM Partners raised their price objective on shares of Cincinnati Financial from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, March 12th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cincinnati Financial currently has an average rating of “Buy” and an average target price of $110.75.
About Cincinnati Financial
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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