Calamos Advisors LLC bought a new position in shares of Cincinnati Financial Corp. (NASDAQ:CINF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,675 shares of the company’s stock, valued at approximately $200,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. boosted its position in shares of Cincinnati Financial Corp. by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,973,845 shares of the company’s stock worth $259,731,000 after buying an additional 16,172 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Cincinnati Financial Corp. by 5.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,320,913 shares of the company’s stock worth $98,923,000 after buying an additional 64,373 shares during the period. Geode Capital Management LLC boosted its position in shares of Cincinnati Financial Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 1,284,690 shares of the company’s stock worth $83,804,000 after buying an additional 24,253 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Cincinnati Financial Corp. by 53.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,159,746 shares of the company’s stock worth $75,801,000 after buying an additional 402,619 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Cincinnati Financial Corp. by 228.7% in the first quarter. Renaissance Technologies LLC now owns 967,700 shares of the company’s stock worth $63,249,000 after buying an additional 673,300 shares during the period. 61.38% of the stock is currently owned by institutional investors and hedge funds.
Cincinnati Financial Corp. (NASDAQ:CINF) traded up 1.32% during mid-day trading on Friday, hitting $75.17. 622,737 shares of the stock were exchanged. The company’s 50-day moving average price is $75.82 and its 200 day moving average price is $71.54. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 19.47 and a beta of 0.79. Cincinnati Financial Corp. has a 52 week low of $53.64 and a 52 week high of $78.09.
Cincinnati Financial Corp. (NASDAQ:CINF) last released its earnings results 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 had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.83 EPS. Cincinnati Financial Corp.’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts expect that Cincinnati Financial Corp. will post $3.19 EPS for the current year.
The business also recently declared 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. This represents a $1.92 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, September 19th. Cincinnati Financial Corp.’s payout ratio is currently 49.74%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research cut Cincinnati Financial Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. MKM Partners increased their target price on shares of Cincinnati Financial Corp. from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, July 15th.
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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