Public Employees Retirement Association of Colorado lifted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 789.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,801 shares of the insurance provider’s stock after purchasing an additional 172,000 shares during the period. Public Employees Retirement Association of Colorado owned about 0.12% of Cincinnati Financial worth $20,091,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hanson & Doremus Investment Management bought a new stake in shares of Cincinnati Financial in the second quarter worth $40,000. Gradient Investments LLC bought a new stake in shares of Cincinnati Financial in the second quarter worth $46,000. Meridian Wealth Management LLC bought a new stake in shares of Cincinnati Financial in the first quarter worth $48,000. Parallel Advisors LLC increased its stake 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 last quarter. Finally, Clarus Wealth Advisors increased its stake in shares of Cincinnati Financial by 47.6% in the second quarter. Clarus Wealth Advisors now owns 766 shares of the insurance provider’s stock worth $79,000 after buying an additional 247 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.
CINF stock traded down $2.37 during trading on Wednesday, hitting $108.34. 5,319 shares of the company’s stock traded hands, compared to its average volume of 709,190. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.10. Cincinnati Financial Co. has a 52 week low of $71.01 and a 52 week high of $110.87. The firm’s fifty day moving average price is $106.86. The stock has a market cap of $17.90 billion, a PE ratio of 32.41 and a beta of 0.65.
Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.21. Cincinnati Financial had a net margin of 18.28% and a return on equity of 7.17%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. As a group, equities analysts forecast that Cincinnati Financial Co. will post 3.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $2.24 annualized dividend and a yield of 2.07%. Cincinnati Financial’s payout ratio is 66.87%.
A number of brokerages recently issued reports on CINF. BidaskClub upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. MKM Partners restated a “buy” rating and issued a $120.00 price target (up previously from $100.00) on shares of Cincinnati Financial in a research note on Friday, May 24th. Royal Bank of Canada lifted their price target on shares of Cincinnati Financial to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. Finally, Credit Suisse Group upgraded shares of Cincinnati Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $90.00 to $110.00 in a research note on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $102.40.
Cincinnati Financial Company 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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