Westpac Banking Corp increased its stake in shares of Cincinnati Financial Corp. (NASDAQ:CINF) by 24.2% during the second quarter, Holdings Channel reports. The institutional investor owned 10,228 shares of the company’s stock after buying an additional 1,991 shares during the period. Westpac Banking Corp’s holdings in Cincinnati Financial Corp. were worth $766,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Evercore Wealth Management LLC boosted its stake in shares of Cincinnati Financial Corp. by 201.8% in the second quarter. Evercore Wealth Management LLC now owns 1,687 shares of the company’s stock valued at $126,000 after buying an additional 1,128 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Cincinnati Financial Corp. by 107.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,974 shares of the company’s stock valued at $148,000 after buying an additional 1,021 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Cincinnati Financial Corp. by 71.9% in the second quarter. Global X Management Co. LLC now owns 2,407 shares of the company’s stock valued at $180,000 after buying an additional 1,007 shares in the last quarter. Invictus RG boosted its stake in shares of Cincinnati Financial Corp. by 3,001.2% in the first quarter. Invictus RG now owns 2,667 shares of the company’s stock valued at $174,000 after buying an additional 2,581 shares in the last quarter. Finally, Calamos Advisors LLC bought a new stake in shares of Cincinnati Financial Corp. during the second quarter valued at about $200,000. 61.38% of the stock is owned by institutional investors.
Shares of Cincinnati Financial Corp. (NASDAQ:CINF) traded down 0.50% during mid-day trading on Monday, reaching $75.04. 44,784 shares of the company were exchanged. Cincinnati Financial Corp. has a 12 month low of $53.64 and a 12 month high of $78.09. The firm’s 50-day moving average is $76.02 and its 200-day moving average is $71.23. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 19.44 and a beta of 0.79.
Cincinnati Financial Corp. (NASDAQ:CINF) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.14. The business earned $1.37 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cincinnati Financial Corp. had a net margin of 12.15% and a return on equity of 9.02%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 EPS. On average, equities analysts forecast that Cincinnati Financial Corp. will post $3.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Wednesday, September 21st will be given a $0.48 dividend. The ex-dividend date is Monday, September 19th. This represents a $1.92 annualized dividend and a dividend yield of 2.55%. Cincinnati Financial Corp.’s dividend payout ratio (DPR) is presently 49.74%.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Cincinnati Financial Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. MKM Partners boosted their price objective on shares of Cincinnati Financial Corp. from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 9th.
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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