Metropolitan Life Insurance Co. NY reduced its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,171 shares of the insurance provider’s stock after selling 1,137 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Cincinnati Financial Corporation were worth $5,360,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Dynamic Advisors Solutions LLC increased its stake in Cincinnati Financial Corporation by 0.4% in the first quarter. Dynamic Advisors Solutions LLC now owns 4,304 shares of the insurance provider’s stock valued at $311,000 after buying an additional 19 shares in the last quarter. South State Corp boosted its position in Cincinnati Financial Corporation by 0.3% in the first quarter. South State Corp now owns 6,090 shares of the insurance provider’s stock worth $440,000 after buying an additional 20 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Cincinnati Financial Corporation by 0.8% in the first quarter. Sequoia Financial Advisors LLC now owns 4,487 shares of the insurance provider’s stock worth $324,000 after buying an additional 37 shares during the last quarter. Moon Capital Management LLC boosted its position in Cincinnati Financial Corporation by 0.7% in the first quarter. Moon Capital Management LLC now owns 6,155 shares of the insurance provider’s stock worth $445,000 after buying an additional 42 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Cincinnati Financial Corporation by 1.0% in the first quarter. Whittier Trust Co. now owns 4,407 shares of the insurance provider’s stock worth $318,000 after buying an additional 42 shares during the last quarter. 63.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cincinnati Financial Corporation (NASDAQ CINF) traded up 0.86% on Friday, reaching $75.81. 370,945 shares of the company’s stock traded hands. The firm has a market cap of $12.48 billion, a P/E ratio of 20.88 and a beta of 0.88. Cincinnati Financial Corporation has a one year low of $68.11 and a one year high of $79.60. The company’s 50-day moving average price is $73.00 and its 200 day moving average price is $71.81.
Cincinnati Financial Corporation (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.05. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.37 billion. Cincinnati Financial Corporation had a net margin of 10.77% and a return on equity of 6.49%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. On average, equities analysts forecast that Cincinnati Financial Corporation will post $2.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Wednesday, June 21st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.64%. The ex-dividend date was Monday, June 19th. Cincinnati Financial Corporation’s payout ratio is 55.10%.
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A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods set a $70.00 price objective on Cincinnati Financial Corporation and gave the stock a “hold” rating in a report on Wednesday, May 24th. Royal Bank Of Canada restated a “hold” rating and set a $72.00 price objective on shares of Cincinnati Financial Corporation in a report on Monday, May 22nd. Finally, BidaskClub upgraded shares of Cincinnati Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.75.
In other Cincinnati Financial Corporation news, Director David P. Osborn bought 1,925 shares of the company’s stock in a transaction on Monday, May 8th. The shares were bought at an average cost of $70.00 per share, for a total transaction of $134,750.00. Following the acquisition, the director now directly owns 21,542 shares in the company, valued at $1,507,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.25% of the stock is owned by corporate insiders.
About Cincinnati Financial Corporation
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.
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