Baird Financial Group Inc. lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,124 shares of the insurance provider’s stock after selling 3,499 shares during the quarter. Baird Financial Group Inc.’s holdings in Cincinnati Financial were worth $3,619,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of CINF. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Cincinnati Financial in the second quarter worth about $107,000. Dupont Capital Management Corp lifted its holdings in shares of Cincinnati Financial by 68.3% in the second quarter. Dupont Capital Management Corp now owns 2,498 shares of the insurance provider’s stock worth $167,000 after acquiring an additional 1,014 shares during the last quarter. Fiera Capital Corp bought a new position in shares of Cincinnati Financial in the first quarter worth about $200,000. Piedmont Investment Advisors LLC bought a new position in shares of Cincinnati Financial in the second quarter worth about $214,000. Finally, GWM Advisors LLC bought a new position in shares of Cincinnati Financial in the first quarter worth about $217,000. 62.21% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on CINF shares. BidaskClub cut shares of Cincinnati Financial from a “hold” rating to a “sell” rating in a report on Thursday, June 7th. Zacks Investment Research upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Sandler O’Neill reiterated a “neutral” rating on shares of Cincinnati Financial in a report on Friday, July 27th. Finally, Credit Suisse Group initiated coverage on shares of Cincinnati Financial in a report on Tuesday, August 7th. They issued an “underperform” rating and a $70.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $78.00.
Shares of NASDAQ CINF opened at $76.90 on Friday. The company has a market capitalization of $12.49 billion, a P/E ratio of 28.00 and a beta of 0.84. Cincinnati Financial Co. has a 1 year low of $66.33 and a 1 year high of $78.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.27 and a quick ratio of 0.27.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, July 26th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.27. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.43 billion. Cincinnati Financial had a net margin of 16.59% and a return on equity of 6.36%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. analysts forecast that Cincinnati Financial Co. will post 3.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Wednesday, September 19th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, September 18th. This represents a $2.12 dividend on an annualized basis and a yield of 2.76%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 77.37%.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation 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.
Read More: How is an ETF different from a mutual fund?
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 MarketBeat.com's FREE daily email newsletter.