Cincinnati Financial Corporation (CINF) Stake Lifted by Vanguard Group Inc.
Vanguard Group Inc. lifted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,010,783 shares of the insurance provider’s stock after purchasing an additional 392,312 shares during the quarter. Vanguard Group Inc. owned 10.38% of Cincinnati Financial Corporation worth $1,232,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. Seven Eight Capital LP bought a new stake in shares of Cincinnati Financial Corporation in the second quarter worth $101,000. Korea Investment CORP grew its holdings in shares of Cincinnati Financial Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 852 shares during the period. First Heartland Consultants Inc. bought a new stake in shares of Cincinnati Financial Corporation in the second quarter worth $210,000. Pacer Advisors Inc. grew its holdings in shares of Cincinnati Financial Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,916 shares of the insurance provider’s stock worth $211,000 after acquiring an additional 88 shares during the period. Finally, Beese Fulmer Investment Management Inc. grew its holdings in shares of Cincinnati Financial Corporation by 3.4% in the second quarter. Beese Fulmer Investment Management Inc. now owns 3,057 shares of the insurance provider’s stock worth $221,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.
Cincinnati Financial Corporation (NASDAQ:CINF) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.18. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.38 billion. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.64%. Cincinnati Financial Corporation’s payout ratio is currently 57.31%.
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Several analysts recently commented on CINF shares. BidaskClub lowered Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Zacks Investment Research raised Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $70.00 price objective on shares of Cincinnati Financial Corporation in a report on Friday, August 18th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $79.25.
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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