Monarch Capital Management Inc. decreased its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,443 shares of the insurance provider's stock after selling 580 shares during the period. Monarch Capital Management Inc.'s holdings in Cincinnati Financial were worth $3,622,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in CINF. J.W. Cole Advisors Inc. bought a new stake in Cincinnati Financial during the first quarter worth about $35,000. NuWave Investment Management LLC purchased a new position in Cincinnati Financial during the 2nd quarter valued at about $40,000. Hardy Reed LLC purchased a new position in Cincinnati Financial during the 1st quarter valued at about $43,000. Monetary Management Group Inc. purchased a new position in Cincinnati Financial during the 4th quarter valued at about $57,000. Finally, Tcwp LLC purchased a new position in Cincinnati Financial during the 1st quarter valued at about $57,000. Institutional investors own 64.52% of the company's stock.
Get Cincinnati Financial alerts:Cincinnati Financial Stock Down 0.7 %
CINF stock traded down $0.68 during midday trading on Thursday, hitting $91.80. The company's stock had a trading volume of 4,909 shares, compared to its average volume of 831,816. The company has a market cap of $14.61 billion, a PE ratio of 28.41 and a beta of 0.54. Cincinnati Financial Co. has a 12 month low of $88.66 and a 12 month high of $143.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.08. The firm's 50-day moving average is $100.12 and its 200-day moving average is $117.18.
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 company had revenue of $820.00 million during the quarter, compared to analysts' expectations of $1.96 billion. Cincinnati Financial had a return on equity of 7.45% and a net margin of 7.59%. The company's revenue for the quarter was down 64.3% on a year-over-year basis. During the same quarter last year, the company earned $1.79 earnings per share. On average, equities research analysts forecast that Cincinnati Financial Co. will post 4.91 earnings per share for the current fiscal year.Cincinnati Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 16th will be paid a $0.69 dividend. The ex-dividend date is Thursday, September 15th. This represents a $2.76 annualized dividend and a dividend yield of 3.01%. Cincinnati Financial's dividend payout ratio (DPR) is 85.71%.
Insiders Place Their Bets
In other Cincinnati Financial news, Director Dirk J. Debbink purchased 510 shares of the business's stock in a transaction on Friday, July 29th. The stock was acquired at an average price of $96.66 per share, for a total transaction of $49,296.60. Following the purchase, the director now owns 44,243 shares of the company's stock, valued at approximately $4,276,528.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Thomas J. Aaron acquired 1,030 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average price of $96.33 per share, for a total transaction of $99,219.90. Following the completion of the transaction, the director now directly owns 5,740 shares in the company, valued at approximately $552,934.20. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Dirk J. Debbink acquired 510 shares of the business's stock in a transaction dated Friday, July 29th. The shares were purchased at an average price of $96.66 per share, with a total value of $49,296.60. Following the transaction, the director now owns 44,243 shares of the company's stock, valued at $4,276,528.38. The disclosure for this purchase can be found here. 2.95% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Raymond James assumed coverage on Cincinnati Financial in a report on Friday, September 23rd. They set a "market perform" rating on the stock. Bank of America began coverage on Cincinnati Financial in a report on Tuesday. They set a "neutral" rating and a $92.00 target price on the stock. StockNews.com downgraded Cincinnati Financial from a "hold" rating to a "sell" rating in a report on Tuesday, August 23rd. Finally, TheStreet downgraded 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 assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $111.00.
Cincinnati Financial 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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