Welch Group LLC cut its position in Cincinnati Financial Corp. (NASDAQ:CINF) by 23.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 226,875 shares of the company’s stock after selling 70,668 shares during the period. Cincinnati Financial Corp. makes up 3.5% of Welch Group LLC’s investment portfolio, making the stock its 2nd largest position. Welch Group LLC’s holdings in Cincinnati Financial Corp. were worth $16,991,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of CINF. First Midwest Bank Trust Division increased its position in Cincinnati Financial Corp. by 136.7% in the second quarter. First Midwest Bank Trust Division now owns 11,930 shares of the company’s stock worth $893,000 after buying an additional 6,890 shares during the period. Alps Advisors Inc. increased its position in Cincinnati Financial Corp. by 12.9% in the second quarter. Alps Advisors Inc. now owns 374,085 shares of the company’s stock worth $28,015,000 after buying an additional 42,628 shares during the period. Calamos Advisors LLC bought a new position in Cincinnati Financial Corp. during the second quarter worth $200,000. GW&K Investment Management LLC increased its position in Cincinnati Financial Corp. by 6.8% in the second quarter. GW&K Investment Management LLC now owns 426,275 shares of the company’s stock worth $31,924,000 after buying an additional 27,234 shares during the period. Finally, First Merchants Corp bought a new position in Cincinnati Financial Corp. during the second quarter worth $232,000. 61.38% of the stock is currently owned by institutional investors and hedge funds.
Cincinnati Financial Corp. (NASDAQ:CINF) traded down 1.27% during trading on Monday, reaching $74.46. 791,407 shares of the company’s stock traded hands. The firm has a market cap of $12.25 billion, a PE ratio of 19.29 and a beta of 0.79. Cincinnati Financial Corp. has a 12 month low of $53.64 and a 12 month high of $78.09. The firm has a 50 day moving average price of $76.02 and a 200-day moving average price of $71.23.
Cincinnati Financial Corp. (NASDAQ:CINF) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.57 earnings per share (EPS) 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 firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts forecast that Cincinnati Financial Corp. will post $3.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 21st will be paid 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 2.58%. Cincinnati Financial Corp.’s payout ratio is presently 49.74%.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Cincinnati Financial Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. MKM Partners upped their price target on shares of Cincinnati Financial Corp. from $80.00 to $90.00 and gave the stock a “buy” rating in a research note 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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