Monarch Capital Management Inc. reduced its stake in Cincinnati Financial Corp. (NASDAQ:CINF) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 59,653 shares of the company’s stock after selling 2,401 shares during the period. Cincinnati Financial Corp. comprises about 1.7% of Monarch Capital Management Inc.’s portfolio, making the stock its 25th largest position. Monarch Capital Management Inc.’s holdings in Cincinnati Financial Corp. were worth $4,467,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. 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 during the period. Calamos Advisors LLC bought a new stake in shares of Cincinnati Financial Corp. during the second quarter valued at $200,000. 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 valued at $199,000 after buying an additional 109 shares during the last quarter. Capital One National Association bought a new stake in shares of Cincinnati Financial Corp. during the second quarter valued at $231,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Cincinnati Financial Corp. during the second quarter valued at $232,000. 61.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cincinnati Financial Corp. (NASDAQ:CINF) traded up 0.85% on Friday, hitting $76.02. The company’s stock had a trading volume of 293,490 shares. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 19.69 and a beta of 0.79. Cincinnati Financial Corp. has a one year low of $53.64 and a one year high of $78.09. The stock has a 50-day moving average price of $75.73 and a 200 day moving average price of $71.79.
Cincinnati Financial Corp. (NASDAQ:CINF) last posted its earnings results on Tuesday, July 26th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.83 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial Corp. will post $3.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 21st will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, September 19th. Cincinnati Financial Corp.’s payout ratio is currently 49.74%.
Several brokerages have weighed in on CINF. 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 boosted their price objective on 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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