Welch Group LLC Trims Holdings in Cincinnati Financial Co. (CINF)
Welch Group LLC reduced its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 329,294 shares of the insurance provider’s stock after selling 4,455 shares during the quarter. Cincinnati Financial comprises about 3.1% of Welch Group LLC’s portfolio, making the stock its 12th biggest position. Welch Group LLC’s holdings in Cincinnati Financial were worth $28,286,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CINF. Private Trust Co. NA boosted its position in Cincinnati Financial by 1.2% during the 1st quarter. Private Trust Co. NA now owns 10,421 shares of the insurance provider’s stock valued at $895,000 after acquiring an additional 122 shares in the last quarter. Pennsylvania Trust Co boosted its position in Cincinnati Financial by 1.3% during the 4th quarter. Pennsylvania Trust Co now owns 10,031 shares of the insurance provider’s stock valued at $777,000 after acquiring an additional 130 shares in the last quarter. NEXT Financial Group Inc boosted its position in Cincinnati Financial by 7.7% during the 4th quarter. NEXT Financial Group Inc now owns 2,153 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 153 shares in the last quarter. Creative Planning boosted its position in Cincinnati Financial by 0.9% during the 4th quarter. Creative Planning now owns 18,592 shares of the insurance provider’s stock valued at $1,439,000 after acquiring an additional 158 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Cincinnati Financial by 1.1% in the 4th quarter. Moody National Bank Trust Division now owns 14,664 shares of the insurance provider’s stock worth $1,135,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 64.15% of the company’s stock.
In other Cincinnati Financial news, Director Dirk J. Debbink acquired 351 shares of the stock in a transaction dated Friday, February 15th. The stock was purchased at an average price of $85.48 per share, with a total value of $30,003.48. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 7.16% of the stock is owned by company insiders.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Wednesday, February 6th. The insurance provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.14. The firm had revenue of $710.00 million during the quarter, compared to analysts’ expectations of $1.47 billion. Cincinnati Financial had a return on equity of 6.86% and a net margin of 5.31%. The business’s quarterly revenue was down 49.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. On average, equities research analysts anticipate that Cincinnati Financial Co. will post 3.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, March 20th will be given a $0.56 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, March 19th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.57%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.87%.
A number of analysts have recently weighed in on CINF shares. Zacks Investment Research cut Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. BidaskClub cut Cincinnati Financial from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 9th. Finally, Credit Suisse Group raised Cincinnati Financial from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $75.00 to $90.00 in a research report on Wednesday, February 27th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Cincinnati Financial has an average rating of “Hold” and a consensus price target of $89.00.
Cincinnati Financial Profile
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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