Cincinnati Financial Co. (CINF) Shares Bought by Private Advisor Group LLC
Private Advisor Group LLC boosted its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 28.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,750 shares of the insurance provider’s stock after acquiring an additional 1,066 shares during the quarter. Private Advisor Group LLC’s holdings in Cincinnati Financial were worth $363,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in CINF. Bessemer Group Inc. acquired a new stake in Cincinnati Financial in the 2nd quarter valued at $273,000. Korea Investment CORP grew its stake in Cincinnati Financial by 142.0% in the 2nd 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 period. Retirement Systems of Alabama grew its stake in Cincinnati Financial by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 72,664 shares of the insurance provider’s stock valued at $5,265,000 after acquiring an additional 208 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Cincinnati Financial by 2.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 477,808 shares of the insurance provider’s stock valued at $34,618,000 after acquiring an additional 11,644 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Cincinnati Financial in the 2nd quarter valued at $1,078,000. 64.55% of the stock is currently owned by hedge funds and other institutional investors.
Cincinnati Financial Co. (NASDAQ:CINF) opened at $74.52 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $12,206.94, a price-to-earnings ratio of 29.06 and a beta of 0.93. Cincinnati Financial Co. has a fifty-two week low of $68.24 and a fifty-two week high of $81.98.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. Cincinnati Financial had a return on equity of 5.85% and a net margin of 8.93%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. equities research analysts forecast that Cincinnati Financial Co. will post 2.65 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 30th. This represents a yield of 2.72%. This is a positive change from Cincinnati Financial’s previous special dividend of $0.46. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.23%.
CINF has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $70.00 price objective on shares of Cincinnati Financial in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $79.25.
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About Cincinnati Financial
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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