Principal Financial Group Inc. Has $17.04 Million Stake in Cincinnati Financial Co. (CINF)
Principal Financial Group Inc. cut its position in Cincinnati Financial Co. (NASDAQ:CINF) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,560 shares of the insurance provider’s stock after selling 7,148 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Cincinnati Financial worth $17,042,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Cincinnati Financial by 2.4% in the second quarter. Vanguard Group Inc. now owns 17,010,783 shares of the insurance provider’s stock valued at $1,232,431,000 after purchasing an additional 392,312 shares during the period. State Street Corp boosted its stake in shares of Cincinnati Financial by 0.6% in the second quarter. State Street Corp now owns 10,126,768 shares of the insurance provider’s stock valued at $733,677,000 after purchasing an additional 58,443 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Cincinnati Financial by 2.2% in the second quarter. JPMorgan Chase & Co. now owns 2,962,990 shares of the insurance provider’s stock valued at $214,669,000 after purchasing an additional 62,767 shares during the period. Royal Bank of Canada boosted its stake in shares of Cincinnati Financial by 3.3% in the second quarter. Royal Bank of Canada now owns 1,879,885 shares of the insurance provider’s stock valued at $136,198,000 after purchasing an additional 60,921 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Cincinnati Financial by 4,980.7% during the 2nd quarter. Janus Henderson Group PLC now owns 1,023,094 shares of the insurance provider’s stock valued at $74,123,000 after acquiring an additional 1,002,957 shares during the last quarter. Institutional investors and hedge funds own 62.24% of the company’s stock.
Cincinnati Financial Co. (NASDAQ:CINF) opened at $72.51 on Monday. Cincinnati Financial Co. has a 52 week low of $68.24 and a 52 week high of $81.98. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11. The company has a market cap of $11,900.00, a price-to-earnings ratio of 28.32 and a beta of 0.92.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. Cincinnati Financial had a net margin of 7.22% and a return on equity of 5.49%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $0.86 EPS. The firm’s revenue was up .7% compared to the same quarter last year. equities research analysts predict that Cincinnati Financial Co. will post 2.65 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.50 per share. This represents a yield of 2.72%. This is an increase from Cincinnati Financial’s previous special dividend of $0.46. The ex-dividend date is Thursday, November 30th. Cincinnati Financial’s dividend payout ratio is 66.01%.
A number of research analysts have commented on CINF shares. Zacks Investment Research upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Tuesday, September 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $70.00 price objective on shares of Cincinnati Financial in a research note on Friday, August 18th. Finally, BidaskClub upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Cincinnati Financial currently has a consensus rating of “Hold” and a consensus target price of $79.25.
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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