Retirement Systems of Alabama cut its stake in shares of Cincinnati Financial Corp. (NASDAQ:CINF) by 0.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 75,411 shares of the company’s stock after selling 108 shares during the period. Retirement Systems of Alabama’s holdings in Cincinnati Financial Corp. were worth $5,648,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Invictus RG boosted its position in 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. Capital One National Association purchased a new position in Cincinnati Financial Corp. during the second quarter valued at about $231,000. Fox Run Management L.L.C. purchased a new position in Cincinnati Financial Corp. during the second quarter valued at about $232,000. First Merchants Corp purchased a new position in Cincinnati Financial Corp. during the second quarter valued at about $232,000. Finally, Boothbay Fund Management LLC purchased a new position in Cincinnati Financial Corp. during the first quarter valued at about $213,000. Institutional investors and hedge funds own 61.38% of the company’s stock.
Cincinnati Financial Corp. (NASDAQ:CINF) traded up 1.02% during trading on Wednesday, reaching $75.36. The company’s stock had a trading volume of 328,621 shares. Cincinnati Financial Corp. has a 52-week low of $53.64 and a 52-week high of $78.09. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 19.52 and a beta of 0.79. The firm has a 50 day moving average price of $75.77 and a 200-day moving average price of $71.74.
Cincinnati Financial Corp. (NASDAQ:CINF) last announced its quarterly earnings data 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. The firm earned $1.37 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cincinnati Financial Corp. had a return on equity of 9.02% and a net margin of 12.15%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. On average, analysts expect that Cincinnati Financial Corp. will post $3.19 earnings per share for the current year.
The business 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 of this dividend is Monday, September 19th. This represents a $1.92 annualized dividend and a yield of 2.55%. Cincinnati Financial Corp.’s dividend payout ratio is presently 49.74%.
Several research firms recently issued reports on CINF. Zacks Investment Research cut Cincinnati Financial Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. MKM Partners increased their target price on Cincinnati Financial Corp. from $80.00 to $90.00 and gave the company a “buy” rating in a research note 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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