Money Concepts Capital Corp lessened its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 71.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 412 shares of the insurance provider's stock after selling 1,030 shares during the period. Money Concepts Capital Corp's holdings in Cincinnati Financial were worth $50,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ellevest Inc. raised its position in shares of Cincinnati Financial by 28.8% during the 2nd quarter. Ellevest Inc. now owns 675 shares of the insurance provider's stock worth $80,000 after acquiring an additional 151 shares in the last quarter. DAVENPORT & Co LLC increased its position in Cincinnati Financial by 11.1% during the second quarter. DAVENPORT & Co LLC now owns 5,400 shares of the insurance provider's stock worth $643,000 after buying an additional 538 shares during the period. Octavia Wealth Advisors LLC increased its position in Cincinnati Financial by 2.5% during the second quarter. Octavia Wealth Advisors LLC now owns 6,949 shares of the insurance provider's stock worth $833,000 after buying an additional 169 shares during the period. PDS Planning Inc increased its position in Cincinnati Financial by 0.5% during the second quarter. PDS Planning Inc now owns 19,980 shares of the insurance provider's stock worth $2,377,000 after buying an additional 94 shares during the period. Finally, IFM Investors Pty Ltd increased its position in Cincinnati Financial by 3.9% during the second quarter. IFM Investors Pty Ltd now owns 24,221 shares of the insurance provider's stock worth $2,882,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 64.52% of the company's stock.
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Wall Street Analyst Weigh In
Several research firms have commented on CINF. StockNews.com lowered Cincinnati Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, August 23rd. TheStreet lowered Cincinnati Financial from a "b" rating to a "c+" rating in a research report on Wednesday, July 27th. Bank of America began coverage on Cincinnati Financial in a research note on Tuesday, September 27th. They issued a "neutral" rating and a $92.00 target price on the stock. Finally, Raymond James began coverage on Cincinnati Financial in a research note on Friday, September 23rd. They issued a "market perform" rating on the stock. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $111.00.
Cincinnati Financial Trading Down 2.5 %
Shares of CINF stock opened at $89.57 on Monday. The business's 50 day moving average is $99.32 and its two-hundred day moving average is $116.44. Cincinnati Financial Co. has a twelve month low of $88.66 and a twelve month high of $143.22. The company has a market capitalization of $14.26 billion, a P/E ratio of 27.82 and a beta of 0.54. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.08.
Cincinnati Financial (NASDAQ:CINF – Get Rating) last announced its earnings results on Wednesday, July 27th. The insurance provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.40). Cincinnati Financial had a net margin of 7.59% and a return on equity of 7.45%. The company had revenue of $820.00 million during the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter last year, the business posted $1.79 earnings per share. The company's revenue for the quarter was down 64.3% compared to the same quarter last year. Equities analysts forecast that Cincinnati Financial Co. will post 4.81 EPS for the current year.
Cincinnati Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 16th will be issued a $0.69 dividend. The ex-dividend date of this dividend 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 is presently 85.71%.
Insider Activity at Cincinnati Financial
In related news, Director Dirk J. Debbink bought 510 shares of the stock in a transaction on Friday, July 29th. The shares were bought at an average cost of $96.66 per share, for a total transaction of $49,296.60. Following the completion of the transaction, the director now owns 44,243 shares of the company's stock, valued at approximately $4,276,528.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dirk J. Debbink purchased 510 shares of the firm's stock in a transaction dated Friday, July 29th. The shares were acquired at an average price of $96.66 per share, with a total value of $49,296.60. Following the purchase, the director now directly owns 44,243 shares of the company's stock, valued at $4,276,528.38. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Aaron acquired 1,030 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased 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 directly owns 5,740 shares in the company, valued at $552,934.20. The disclosure for this purchase can be found here. Company insiders own 2.95% of the company's stock.
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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