Baltimore Capital Management Inc. purchased a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,923 shares of the insurance provider’s stock, valued at approximately $1,024,000. Cincinnati Financial accounts for 1.7% of Baltimore Capital Management Inc.’s portfolio, making the stock its 17th largest holding.
A number of other hedge funds have also recently bought and sold shares of CINF. Berman Capital Advisors LLC purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth about $37,000. Clarus Wealth Advisors purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth about $38,000. Portfolio Solutions LLC purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth about $39,000. Princeton Global Asset Management LLC purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth about $41,000. Finally, Parallel Advisors LLC boosted its position in shares of Cincinnati Financial by 30.5% in the first quarter. Parallel Advisors LLC now owns 758 shares of the insurance provider’s stock worth $65,000 after buying an additional 177 shares during the period. 63.19% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:CINF opened at $102.98 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Co. has a one year low of $66.33 and a one year high of $103.15. The stock has a market capitalization of $16.75 billion, a P/E ratio of 30.74 and a beta of 0.66.
Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. Cincinnati Financial had a return on equity of 7.35% and a net margin of 15.97%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 76.4% compared to the same quarter last year. As a group, equities research analysts predict that Cincinnati Financial Co. will post 3.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Wednesday, June 19th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 66.87%.
Several brokerages have recently weighed in on CINF. BidaskClub downgraded Cincinnati Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. MKM Partners reaffirmed a “buy” rating and issued a $120.00 target price (up previously from $100.00) on shares of Cincinnati Financial in a research report on Friday, May 24th. Credit Suisse Group raised Cincinnati Financial from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $90.00 to $110.00 in a research report on Friday, May 17th. Finally, Zacks Investment Research downgraded Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $101.75.
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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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