GWM Advisors LLC raised its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 27.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,844 shares of the insurance provider’s stock after acquiring an additional 828 shares during the quarter. GWM Advisors LLC’s holdings in Cincinnati Financial were worth $399,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in CINF. Kavar Capital Partners LLC acquired a new stake in Cincinnati Financial in the second quarter valued at $26,000. Hanson & Doremus Investment Management acquired a new position in shares of Cincinnati Financial during the 2nd quarter worth $40,000. Gradient Investments LLC acquired a new position in shares of Cincinnati Financial during the 2nd quarter worth $46,000. Meridian Wealth Management LLC acquired a new position in shares of Cincinnati Financial during the 1st quarter worth $48,000. Finally, Parallel Advisors LLC raised its stake in shares of Cincinnati Financial by 30.5% during the 1st quarter. Parallel Advisors LLC now owns 758 shares of the insurance provider’s stock worth $65,000 after buying an additional 177 shares during the last quarter. 63.79% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Cincinnati Financial to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. BidaskClub raised Cincinnati Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. MKM Partners reaffirmed a “buy” rating and set a $120.00 price target (up previously from $100.00) on shares of Cincinnati Financial in a research note on Friday, May 24th. Finally, Credit Suisse Group raised Cincinnati Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $90.00 to $110.00 in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cincinnati Financial currently has a consensus rating of “Buy” and a consensus price target of $102.40.
Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.21. Cincinnati Financial had a return on equity of 7.17% and a net margin of 18.28%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The business’s revenue was up 22.8% on a year-over-year basis. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 3.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 18th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is 66.87%.
About Cincinnati Financial
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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