DAVENPORT & Co LLC boosted its stake in Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,400 shares of the insurance provider's stock after buying an additional 538 shares during the quarter. DAVENPORT & Co LLC's holdings in Cincinnati Financial were worth $643,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of CINF. First Affirmative Financial Network raised its position in Cincinnati Financial by 3.4% in the 4th quarter. First Affirmative Financial Network now owns 2,557 shares of the insurance provider's stock valued at $291,000 after purchasing an additional 83 shares during the last quarter. United Capital Financial Advisers LLC raised its position in Cincinnati Financial by 0.9% in the 1st quarter. United Capital Financial Advisers LLC now owns 9,645 shares of the insurance provider's stock valued at $1,311,000 after purchasing an additional 87 shares during the last quarter. PDS Planning Inc raised its position in Cincinnati Financial by 0.5% in the 2nd quarter. PDS Planning Inc now owns 19,980 shares of the insurance provider's stock valued at $2,377,000 after purchasing an additional 94 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Cincinnati Financial by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the insurance provider's stock valued at $1,342,000 after purchasing an additional 100 shares during the last quarter. Finally, Lincoln Capital LLC raised its position in Cincinnati Financial by 1.1% in the 1st quarter. Lincoln Capital LLC now owns 9,323 shares of the insurance provider's stock valued at $1,268,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 64.52% of the company's stock.
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Insider Buying and Selling
In related news, Director Dirk J. Debbink acquired 510 shares of the firm's stock in a transaction that occurred on Friday, July 29th. The stock was acquired at an average cost of $96.66 per share, with a total value 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cincinnati Financial news, Director Dirk J. Debbink bought 510 shares of the firm's stock in a transaction on Friday, July 29th. The stock was purchased at an average cost of $96.66 per share, with a total value of $49,296.60. Following the completion of the purchase, the director now owns 44,243 shares in the company, valued at $4,276,528.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas J. Aaron bought 1,030 shares of the firm's stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average cost of $96.33 per share, with a total value of $99,219.90. Following the completion of the purchase, the director now owns 5,740 shares of the company's stock, valued at approximately $552,934.20. The disclosure for this purchase can be found here. 2.95% of the stock is owned by insiders.
Cincinnati Financial Trading Down 2.5 %
CINF stock opened at $89.57 on Friday. The company has a market cap of $14.26 billion, a P/E ratio of 27.82 and a beta of 0.54. Cincinnati Financial Co. has a twelve month low of $88.66 and a twelve month high of $143.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $99.32 and a 200-day moving average of $116.65.
Cincinnati Financial (NASDAQ:CINF – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The insurance provider reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.40). Cincinnati Financial had a return on equity of 7.45% and a net margin of 7.59%. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm earned $1.79 earnings per share. The firm's revenue for the quarter was down 64.3% on a year-over-year basis. As a group, equities research analysts expect that Cincinnati Financial Co. will post 4.81 EPS for the current year.
Cincinnati Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 16th will be paid a dividend of $0.69 per share. The ex-dividend date is Thursday, September 15th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.08%. Cincinnati Financial's dividend payout ratio (DPR) is presently 85.71%.
Wall Street Analyst Weigh In
CINF has been the subject of several research analyst reports. TheStreet downgraded Cincinnati Financial from a "b" rating to a "c+" rating in a research report on Wednesday, July 27th. StockNews.com downgraded Cincinnati Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, August 23rd. Raymond James began coverage on Cincinnati Financial in a research report on Friday, September 23rd. They set a "market perform" rating for the company. Finally, Bank of America began coverage on Cincinnati Financial in a research report on Tuesday. They set a "neutral" rating and a $92.00 target price for the company. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, Cincinnati Financial presently has a consensus rating of "Hold" and a consensus price target of $111.00.
Cincinnati Financial Company Profile
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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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- Get a free copy of the StockNews.com research report on Cincinnati Financial (CINF)
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