Meeder Asset Management Inc. increased its stake in shares of Cincinnati Financial Corp. (NASDAQ:CINF) by 57.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,377 shares of the company’s stock after buying an additional 1,594 shares during the period. Meeder Asset Management Inc.’s holdings in Cincinnati Financial Corp. were worth $329,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cleararc Capital Inc. increased its position in Cincinnati Financial Corp. by 0.3% in the first quarter. Cleararc Capital Inc. now owns 3,599 shares of the company’s stock valued at $235,000 after buying an additional 10 shares during the period. Moon Capital Management LLC boosted its stake in shares of Cincinnati Financial Corp. by 0.7% in the second quarter. Moon Capital Management LLC now owns 6,036 shares of the company’s stock valued at $452,000 after buying an additional 44 shares in the last quarter. FirstMerit Bank N A Trustee boosted its stake in shares of Cincinnati Financial Corp. by 1.7% in the second quarter. FirstMerit Bank N A Trustee now owns 4,985 shares of the company’s stock valued at $373,000 after buying an additional 85 shares in the last quarter. Dynamic Advisors Solutions LLC boosted its stake in shares of Cincinnati Financial Corp. by 4.3% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,769 shares of the company’s stock valued at $246,000 after buying an additional 154 shares in the last quarter. Finally, Oakbrook Investments LLC boosted its stake in shares of Cincinnati Financial Corp. by 2.3% in the second quarter. Oakbrook Investments LLC now owns 9,000 shares of the company’s stock valued at $674,000 after buying an additional 200 shares in the last quarter. 61.38% of the stock is owned by institutional investors and hedge funds.
Cincinnati Financial Corp. (NASDAQ:CINF) traded down 1.51% during mid-day trading on Friday, reaching $74.96. 391,084 shares of the company were exchanged. Cincinnati Financial Corp. has a 1-year low of $52.63 and a 1-year high of $78.09. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 19.42 and a beta of 0.78. The company has a 50 day moving average of $76.14 and a 200-day moving average of $70.85.
Cincinnati Financial Corp. (NASDAQ:CINF) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Cincinnati Financial Corp. had a net margin of 12.15% and a return on equity of 9.02%. The company earned $1.37 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts forecast that Cincinnati Financial Corp. will post $3.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 21st will be issued a $0.48 dividend. The ex-dividend date is Monday, September 19th. This represents a $1.92 dividend on an annualized basis and a yield of 2.56%. Cincinnati Financial Corp.’s payout ratio is 49.74%.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Cincinnati Financial Corp. from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Wednesday, July 20th. MKM Partners upped their target price on shares of Cincinnati Financial Corp. from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, July 15th.
About Cincinnati Financial Corp.
Cincinnati Financial Corporation is an insurance holding company. The Company is engaged in the business of property casualty insurance marketed through independent insurance agencies in over 40 states. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, Life insurance and Investments.
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