Monument Capital Management cut its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,585 shares of the insurance provider's stock after selling 1,021 shares during the quarter. Monument Capital Management's holdings in Cincinnati Financial were worth $1,973,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. J.W. Cole Advisors Inc. purchased a new position in Cincinnati Financial in the 1st quarter worth approximately $35,000. NuWave Investment Management LLC purchased a new stake in Cincinnati Financial during the 2nd quarter valued at about $40,000. Hardy Reed LLC purchased a new stake in shares of Cincinnati Financial during the 1st quarter valued at about $43,000. Exchange Traded Concepts LLC purchased a new stake in shares of Cincinnati Financial during the 2nd quarter valued at about $56,000. Finally, Monetary Management Group Inc. bought a new position in shares of Cincinnati Financial in the 4th quarter worth approximately $57,000. 64.52% of the stock is owned by institutional investors.
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Cincinnati Financial Stock Down 0.7 %
NASDAQ CINF opened at $91.85 on Friday. The business has a fifty day moving average price of $99.74 and a 200 day moving average price of $116.93. Cincinnati Financial Co. has a one year low of $88.66 and a one year high of $143.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $14.62 billion, a P/E ratio of 28.52 and a beta of 0.54.
Cincinnati Financial (NASDAQ:CINF – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The insurance provider reported $0.65 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.40). The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $1.96 billion. Cincinnati Financial had a net
margin of 7.59% and a return on equity of 7.45%. The firm's revenue for the quarter was down 64.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.79 earnings per share. Research analysts anticipate that Cincinnati Financial Co. will post 4.81 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 16th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 15th. Cincinnati Financial's dividend payout ratio (DPR) is presently 85.71%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on CINF shares. StockNews.com lowered shares of Cincinnati Financial from a "hold" rating to a "sell" rating in a report on Tuesday, August 23rd. Bank of America began coverage on Cincinnati Financial in a report on Tuesday. They issued a "neutral" rating and a $92.00 price objective for the company. Raymond James began coverage on shares of Cincinnati Financial in a report on Friday, September 23rd. They issued a "market perform" rating for the company. Finally, TheStreet downgraded shares of Cincinnati Financial from a "b" rating to a "c+" rating in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $111.00.
Insider Transactions at Cincinnati Financial
In other news, Director Dirk J. Debbink purchased 510 shares of the business's stock in a transaction on Friday, July 29th. The shares were bought at an average price of $96.66 per share, with a total value of $49,296.60. Following the completion of the transaction, the director now directly owns 44,243 shares in the company, valued at approximately $4,276,528.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cincinnati Financial news, Director Dirk J. Debbink purchased 510 shares of the firm's stock in a transaction that occurred on Friday, July 29th. The shares were purchased at an average cost of $96.66 per share, for a total transaction of $49,296.60. Following the completion of the purchase, the director now directly owns 44,243 shares in the company, valued at $4,276,528.38. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Aaron purchased 1,030 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $96.33 per share, with a total value of $99,219.90. Following the completion of the acquisition, the director now owns 5,740 shares of the company's stock, valued at $552,934.20. The disclosure for this purchase can be found here. Corporate insiders own 2.95% of the company's stock.
About Cincinnati Financial
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Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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