Nomura Holdings Inc. cut its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,120 shares of the insurance provider’s stock after selling 381 shares during the period. Nomura Holdings Inc.’s holdings in Cincinnati Financial Corporation were worth $3,053,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CINF. Seven Eight Capital LP bought a new stake in Cincinnati Financial Corporation in the second quarter valued at approximately $101,000. Korea Investment CORP boosted its holdings in Cincinnati Financial Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 852 shares during the last quarter. People s United Financial Inc. boosted its holdings in Cincinnati Financial Corporation by 6.5% in the second quarter. People s United Financial Inc. now owns 1,802 shares of the insurance provider’s stock valued at $131,000 after acquiring an additional 110 shares during the last quarter. San Francisco Sentry Investment Group CA bought a new stake in Cincinnati Financial Corporation in the second quarter valued at approximately $152,000. Finally, First Heartland Consultants Inc. bought a new stake in Cincinnati Financial Corporation in the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 63.10% of the company’s stock.
A number of research firms have issued reports on CINF. BidaskClub cut Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Keefe, Bruyette & Woods restated a “hold” rating and set a $70.00 price target on shares of Cincinnati Financial Corporation in a report on Friday, August 18th. Finally, Zacks Investment Research upgraded Cincinnati Financial Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, September 19th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $79.25.
Cincinnati Financial Corporation (NASDAQ CINF) traded up 0.99% during trading on Friday, hitting $76.68. The company’s stock had a trading volume of 50,248 shares. The firm has a 50 day moving average of $76.38 and a 200 day moving average of $73.66. Cincinnati Financial Corporation has a 12 month low of $68.11 and a 12 month high of $81.98. The firm has a market cap of $12.57 billion, a P/E ratio of 21.97 and a beta of 0.90.
Cincinnati Financial Corporation (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.18. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial Corporation will post $2.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.63%. Cincinnati Financial Corporation’s dividend payout ratio is presently 57.31%.
Cincinnati Financial Corporation Company Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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