Principal Financial Group Inc. cut its stake in Cincinnati Financial Corp. (NASDAQ:CINF) by 1.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 230,150 shares of the company’s stock after selling 4,481 shares during the period. Principal Financial Group Inc. owned 0.14% of Cincinnati Financial Corp. worth $17,236,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Evercore Wealth Management LLC boosted its stake in 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 during 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 worth $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 worth $174,000 after buying an additional 2,581 shares in the last quarter. Calamos Advisors LLC bought a new stake in shares of Cincinnati Financial Corp. during the second quarter worth approximately $200,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Cincinnati Financial Corp. by 4.2% in the second quarter. Quadrant Capital Group LLC now owns 2,694 shares of the company’s stock worth $199,000 after buying an additional 109 shares in the last quarter. 61.38% of the stock is currently owned by institutional investors.
Cincinnati Financial Corp. (NASDAQ:CINF) traded up 0.42% during midday trading on Wednesday, hitting $74.15. The stock had a trading volume of 36,622 shares. Cincinnati Financial Corp. has a 52-week low of $53.64 and a 52-week high of $78.09. The firm has a market capitalization of $12.20 billion, a P/E ratio of 19.21 and a beta of 0.79. The firm has a 50-day moving average of $75.92 and a 200 day moving average of $71.43.
Cincinnati Financial Corp. (NASDAQ:CINF) last posted its earnings results on Tuesday, July 26th. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 earned $1.37 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Cincinnati Financial Corp. will post $3.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 21st will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $1.92 annualized dividend and a yield of 2.60%. Cincinnati Financial Corp.’s dividend payout ratio (DPR) is currently 49.74%.
A number of brokerages have recently commented on CINF. MKM Partners boosted their price target on Cincinnati Financial Corp. from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Zacks Investment Research raised Cincinnati Financial Corp. from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, July 20th.
Cincinnati Financial Corp. Company Profile
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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