Seven Eight Capital LP acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,400 shares of the insurance provider’s stock, valued at approximately $101,000.
Several other hedge funds also recently modified their holdings of the stock. South State Corp grew its holdings in Cincinnati Financial Corporation by 0.3% in the 1st quarter. South State Corp now owns 6,090 shares of the insurance provider’s stock valued at $440,000 after buying an additional 20 shares during the last quarter. Capital One National Association grew its holdings in Cincinnati Financial Corporation by 0.9% in the 2nd quarter. Capital One National Association now owns 3,648 shares of the insurance provider’s stock valued at $264,000 after buying an additional 31 shares during the last quarter. Sigma Planning Corp grew its holdings in Cincinnati Financial Corporation by 1.2% in the 2nd quarter. Sigma Planning Corp now owns 3,305 shares of the insurance provider’s stock valued at $239,000 after buying an additional 39 shares during the last quarter. Moon Capital Management LLC grew its holdings in Cincinnati Financial Corporation by 0.7% in the 2nd quarter. Moon Capital Management LLC now owns 6,198 shares of the insurance provider’s stock valued at $449,000 after buying an additional 43 shares during the last quarter. Finally, Washington Trust Bank grew its holdings in Cincinnati Financial Corporation by 1.0% in the 2nd quarter. Washington Trust Bank now owns 4,861 shares of the insurance provider’s stock valued at $352,000 after buying an additional 47 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cincinnati Financial Corporation (NASDAQ CINF) opened at 76.33 on Thursday. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 21.87 and a beta of 0.89. Cincinnati Financial Corporation has a 12-month low of $68.11 and a 12-month high of $81.98. The firm has a 50-day moving average price of $77.35 and a 200-day moving average price of $73.28.
Cincinnati Financial Corporation (NASDAQ:CINF) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.18. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. Equities research analysts anticipate that Cincinnati Financial Corporation will post $2.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 22nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.00 annualized dividend and a yield of 2.62%. Cincinnati Financial Corporation’s dividend payout ratio is 57.31%.
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A number of analysts have issued reports on the company. BidaskClub lowered Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered Cincinnati Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $70.00 target price on shares of Cincinnati Financial Corporation in a report on Friday, August 18th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $79.25.
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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