Municipal Employees Retirement System of Michigan cut its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 19.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,850 shares of the insurance provider’s stock after selling 910 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Cincinnati Financial were worth $295,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of CINF. JPMorgan Chase & Co. increased its holdings in Cincinnati Financial by 2.2% during the 2nd 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 in the last quarter. Prudential Financial Inc. increased its holdings in Cincinnati Financial by 1.2% during the 2nd quarter. Prudential Financial Inc. now owns 226,607 shares of the insurance provider’s stock valued at $16,418,000 after purchasing an additional 2,620 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Cincinnati Financial by 1.2% during the 2nd quarter. Principal Financial Group Inc. now owns 229,708 shares of the insurance provider’s stock valued at $16,643,000 after purchasing an additional 2,762 shares in the last quarter. Schulhoff & Co. Inc. increased its holdings in Cincinnati Financial by 0.3% during the 2nd quarter. Schulhoff & Co. Inc. now owns 63,477 shares of the insurance provider’s stock valued at $4,598,000 after purchasing an additional 200 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Cincinnati Financial by 19.6% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,267 shares of the insurance provider’s stock valued at $2,845,000 after purchasing an additional 6,440 shares in the last quarter. 64.55% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on CINF shares. Zacks Investment Research cut Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $70.00 price target on shares of Cincinnati Financial in a report on Friday, August 18th. One 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 company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $79.25.
Shares of Cincinnati Financial Co. (NASDAQ:CINF) opened at $74.56 on Tuesday. Cincinnati Financial Co. has a twelve month low of $68.24 and a twelve month high of $81.98. The firm has a market capitalization of $12,180.00, a price-to-earnings ratio of 29.06 and a beta of 0.93. 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 (NASDAQ:CINF) last released its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. Cincinnati Financial had a return on equity of 5.85% and a net margin of 8.93%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm posted $0.86 EPS. The business’s revenue was up .7% on a year-over-year basis. equities analysts anticipate that Cincinnati Financial Co. will post 2.65 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.50 dividend. This is a boost from Cincinnati Financial’s previous special dividend of $0.46. This represents a dividend yield of 2.72%. The ex-dividend date is Thursday, November 30th. Cincinnati Financial’s dividend payout ratio (DPR) is 66.01%.
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Cincinnati Financial 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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