Cubist Systematic Strategies LLC raised its position in Cincinnati Financial Co. (NASDAQ:CINF) by 133.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,705 shares of the insurance provider’s stock after purchasing an additional 39,843 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Cincinnati Financial were worth $7,186,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Select Equity Group L.P. increased its stake in shares of Cincinnati Financial by 8.8% in the fourth quarter. Select Equity Group L.P. now owns 9,110,337 shares of the insurance provider’s stock valued at $795,970,000 after purchasing an additional 739,370 shares during the period. Aristotle Capital Management LLC increased its stake in shares of Cincinnati Financial by 151.1% in the fourth quarter. Aristotle Capital Management LLC now owns 8,064,429 shares of the insurance provider’s stock valued at $704,589,000 after purchasing an additional 4,852,298 shares during the period. London Co. of Virginia increased its stake in shares of Cincinnati Financial by 3.2% in the first quarter. London Co. of Virginia now owns 3,758,012 shares of the insurance provider’s stock valued at $387,414,000 after purchasing an additional 114,771 shares during the period. Geode Capital Management LLC increased its stake in shares of Cincinnati Financial by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,604,635 shares of the insurance provider’s stock valued at $267,800,000 after purchasing an additional 63,573 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Cincinnati Financial by 5.3% in the first quarter. Royal Bank of Canada now owns 2,430,520 shares of the insurance provider’s stock valued at $250,562,000 after purchasing an additional 123,043 shares during the period. Institutional investors own 66.63% of the company’s stock.
In related news, Director Charles Odell Schiff sold 10,100 shares of the firm’s stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $119.82, for a total value of $1,210,182.00. Company insiders own 8.22% of the company’s stock.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, April 28th. The insurance provider reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.32. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.68 billion. Cincinnati Financial had a net margin of 31.05% and a return on equity of 6.04%. The firm’s quarterly revenue was down 2349.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. Analysts predict that Cincinnati Financial Co. will post 4.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Thursday, June 17th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Wednesday, June 16th. Cincinnati Financial’s dividend payout ratio is 76.83%.
A number of research analysts recently commented on CINF shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cincinnati Financial from $88.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, May 4th. Piper Sandler upgraded shares of Cincinnati Financial from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $100.00 to $116.00 in a research note on Friday, July 9th. Finally, Royal Bank of Canada raised their price objective on shares of Cincinnati Financial from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, April 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $111.80.
Cincinnati Financial Profile
Cincinnati Financial Corporation, together with its subsidiary, 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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