Zurcher Kantonalbank Zurich Cantonalbank maintained its stake in Cincinnati Financial Co. (NASDAQ:CINF) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,041 shares of the insurance provider’s stock at the end of the first quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cincinnati Financial were worth $2,316,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Cincinnati Financial during the fourth quarter valued at approximately $118,284,000. State Street Corp increased its stake in shares of Cincinnati Financial by 8.8% in the fourth quarter. State Street Corp now owns 9,738,423 shares of the insurance provider’s stock valued at $737,679,000 after buying an additional 791,500 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of Cincinnati Financial by 58.6% in the third quarter. Johnson Investment Counsel Inc. now owns 940,445 shares of the insurance provider’s stock valued at $70,928,000 after buying an additional 347,375 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Cincinnati Financial by 627.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 265,940 shares of the insurance provider’s stock valued at $20,148,000 after buying an additional 229,403 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in shares of Cincinnati Financial by 100.0% in the third quarter. Panagora Asset Management Inc. now owns 352,763 shares of the insurance provider’s stock valued at $26,605,000 after buying an additional 176,420 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.
Shares of Cincinnati Financial Co. (NASDAQ:CINF) traded up 0.52% during midday trading on Friday, hitting $69.34. 253,307 shares of the company traded hands. The stock’s 50-day moving average is $70.72 and its 200 day moving average is $72.74. Cincinnati Financial Co. has a 12-month low of $67.14 and a 12-month high of $79.60. The stock has a market capitalization of $11.42 billion, a P/E ratio of 19.10 and a beta of 0.81.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. Cincinnati Financial had a return on equity of 7.33% and a net margin of 10.85%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business earned $1.13 EPS. The business’s revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Cincinnati Financial Co. will post $2.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Wednesday, June 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.90%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 54.08%.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. MKM Partners restated a “buy” rating and issued a $90.00 price target on shares of Cincinnati Financial in a research report on Friday, February 10th. Finally, Keefe, Bruyette & Woods set a $70.00 price target on shares of Cincinnati Financial and gave the company a “hold” rating in a research report on Wednesday, March 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $81.00.
In related news, Director David P. Osborn acquired 1,925 shares of the company’s stock in a transaction on Monday, May 8th. The shares were acquired at an average cost of $70.00 per share, for a total transaction of $134,750.00. Following the purchase, the director now owns 21,542 shares in the company, valued at $1,507,940. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 9.22% of the stock is currently owned by company insiders.
About Cincinnati Financial
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
Receive News & Ratings for Cincinnati Financial Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial Co. and related companies with MarketBeat.com's FREE daily email newsletter.