9,270 Shares in Cincinnati Financial Corp. (CINF) Acquired by Pitcairn Co.
Pitcairn Co. bought a new position in Cincinnati Financial Corp. (NASDAQ:CINF) during the second quarter, Holdings Channel reports. The institutional investor bought 9,270 shares of the company’s stock, valued at approximately $694,000.
Several other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Cincinnati Financial Corp. during the fourth quarter valued at approximately $102,285,000. Chevy Chase Trust Holdings Inc. increased its position in Cincinnati Financial Corp. by 5.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 125,355 shares of the company’s stock valued at $8,194,000 after buying an additional 6,220 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Cincinnati Financial Corp. by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,352 shares of the company’s stock valued at $2,311,000 after buying an additional 4,481 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its position in Cincinnati Financial Corp. by 9.0% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 36,012 shares of the company’s stock valued at $2,354,000 after buying an additional 2,959 shares during the last quarter. Finally, Sigma Planning Corp purchased a new position in Cincinnati Financial Corp. during the first quarter valued at approximately $287,000. Hedge funds and other institutional investors own 61.38% of the company’s stock.
Shares of Cincinnati Financial Corp. (NASDAQ:CINF) traded up 1.08% during midday trading on Wednesday, reaching $75.57. 498,298 shares of the company’s stock were exchanged. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 19.58 and a beta of 0.78. Cincinnati Financial Corp. has a one year low of $52.63 and a one year high of $78.09. The firm has a 50 day moving average of $76.12 and a 200-day moving average of $70.74.
Cincinnati Financial Corp. (NASDAQ:CINF) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.14. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cincinnati Financial Corp. had a net margin of 12.15% and a return on equity of 9.02%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. On average, equities research analysts anticipate that Cincinnati Financial Corp. will post $3.19 earnings per share for the current year.
The firm also recently declared 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 2.54%. The ex-dividend date is Monday, September 19th. Cincinnati Financial Corp.’s dividend payout ratio is presently 49.74%.
Several research firms recently commented on CINF. MKM Partners upped their price objective 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. Zacks Investment Research raised shares of Cincinnati Financial Corp. from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Wednesday, July 20th.
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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