Oppenheimer & Co. Inc. cut its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,026 shares of the insurance provider’s stock after selling 118 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cincinnati Financial were worth $1,291,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Berman Capital Advisors LLC acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $37,000. Clarus Wealth Advisors acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $38,000. Portfolio Solutions LLC acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $39,000. Princeton Global Asset Management LLC acquired a new stake in shares of Cincinnati Financial in the fourth quarter worth $41,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Cincinnati Financial in the fourth quarter worth $70,000. 64.05% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on CINF shares. BidaskClub upgraded shares of Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 5th. Zacks Investment Research raised shares of Cincinnati Financial from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research report on Tuesday, February 12th. Credit Suisse Group raised shares of Cincinnati Financial from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $75.00 to $90.00 in a report on Wednesday, February 27th. Finally, MKM Partners reissued a “buy” rating and issued a $120.00 price target (up previously from $100.00) on shares of Cincinnati Financial in a report on Friday. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $101.75.
Cincinnati Financial stock traded up $0.47 during trading hours on Friday, reaching $99.69. 435,200 shares of the company’s stock traded hands, compared to its average volume of 673,993. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.10. The company has a market cap of $16.27 billion, a PE ratio of 29.76 and a beta of 0.72. Cincinnati Financial Co. has a fifty-two week low of $66.33 and a fifty-two week high of $100.00.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Cincinnati Financial had a return on equity of 7.35% and a net margin of 15.97%. Cincinnati Financial’s revenue was up 76.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. Research analysts forecast that Cincinnati Financial Co. will post 3.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, June 19th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $2.24 annualized dividend and a dividend yield of 2.25%. Cincinnati Financial’s dividend payout ratio is currently 66.87%.
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About Cincinnati Financial
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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