DnB Asset Management AS Has $2.75 Million Position in Cincinnati Financial Co. (CINF)
DnB Asset Management AS boosted its position in Cincinnati Financial Co. (NASDAQ:CINF) by 16.9% during the 4th quarter, HoldingsChannel reports. The fund owned 36,675 shares of the insurance provider’s stock after acquiring an additional 5,300 shares during the quarter. DnB Asset Management AS’s holdings in Cincinnati Financial were worth $2,750,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of CINF. Truepoint Inc. raised its holdings in Cincinnati Financial by 7,395.5% during the third quarter. Truepoint Inc. now owns 1,954,901 shares of the insurance provider’s stock worth $1,955,000 after purchasing an additional 1,928,820 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Cincinnati Financial by 4,980.7% during the second quarter. Janus Henderson Group PLC now owns 1,023,094 shares of the insurance provider’s stock worth $74,123,000 after purchasing an additional 1,002,957 shares in the last quarter. Vanguard Group Inc. raised its holdings in Cincinnati Financial by 2.4% during the second quarter. Vanguard Group Inc. now owns 17,010,783 shares of the insurance provider’s stock worth $1,232,431,000 after purchasing an additional 392,312 shares in the last quarter. Fairpointe Capital LLC raised its holdings in Cincinnati Financial by 72.3% during the second quarter. Fairpointe Capital LLC now owns 811,439 shares of the insurance provider’s stock worth $58,789,000 after purchasing an additional 340,373 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Cincinnati Financial by 118.1% during the second quarter. Renaissance Technologies LLC now owns 375,000 shares of the insurance provider’s stock worth $27,169,000 after purchasing an additional 203,055 shares in the last quarter. 64.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cincinnati Financial Co. (NASDAQ:CINF) opened at $74.03 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11. Cincinnati Financial Co. has a 1-year low of $68.24 and a 1-year high of $81.98. The firm has a market cap of $12,150.00, a P/E ratio of 24.43 and a beta of 0.93.
Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Cincinnati Financial had a net margin of 8.93% and a return on equity of 5.85%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. sell-side analysts expect that Cincinnati Financial Co. will post 2.65 EPS for the current year.
The business also recently disclosed a special dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a yield of 2.72%. This is a boost from Cincinnati Financial’s previous special dividend of $0.46. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.01%.
A number of analysts have weighed in on CINF shares. Zacks Investment Research raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Monday, September 25th. BidaskClub raised shares of Cincinnati Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, December 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Cincinnati Financial has an average rating of “Hold” and a consensus price target of $78.50.
Cincinnati Financial 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.
Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Co. (NASDAQ:CINF).
Receive News & Ratings for Cincinnati Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial and related companies with Analyst Ratings Network's FREE daily email newsletter.