Denali Advisors LLC Purchases Shares of 2,600 Cincinnati Financial Co. (CINF)

Denali Advisors LLC purchased a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,600 shares of the insurance provider’s stock, valued at approximately $200,000.

A number of other hedge funds also recently made changes to their positions in CINF. Select Equity Group L.P. boosted its holdings in Cincinnati Financial by 29.6% in the first quarter. Select Equity Group L.P. now owns 4,770,980 shares of the insurance provider’s stock valued at $354,293,000 after acquiring an additional 1,089,273 shares during the last quarter. First Trust Advisors LP boosted its holdings in Cincinnati Financial by 73.2% in the second quarter. First Trust Advisors LP now owns 682,914 shares of the insurance provider’s stock valued at $45,660,000 after acquiring an additional 288,711 shares during the last quarter. Millennium Management LLC boosted its holdings in Cincinnati Financial by 256.1% in the first quarter. Millennium Management LLC now owns 373,603 shares of the insurance provider’s stock valued at $27,744,000 after acquiring an additional 268,691 shares during the last quarter. Morgan Stanley boosted its holdings in Cincinnati Financial by 41.5% in the second quarter. Morgan Stanley now owns 546,225 shares of the insurance provider’s stock valued at $36,521,000 after acquiring an additional 160,292 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Cincinnati Financial by 3,953.5% in the second quarter. Advisors Asset Management Inc. now owns 132,143 shares of the insurance provider’s stock valued at $133,000 after acquiring an additional 128,883 shares during the last quarter. Institutional investors and hedge funds own 62.21% of the company’s stock.

Shares of CINF opened at $76.33 on Thursday. Cincinnati Financial Co. has a 52-week low of $66.33 and a 52-week high of $79.67. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 27.86 and a beta of 0.83.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, July 26th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.27. Cincinnati Financial had a return on equity of 6.36% and a net margin of 16.59%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. Equities analysts predict that Cincinnati Financial Co. will post 3.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Wednesday, September 19th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.78%. The ex-dividend date is Tuesday, September 18th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 77.37%.

CINF has been the topic of several analyst reports. BidaskClub upgraded Cincinnati Financial from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Zacks Investment Research upgraded Cincinnati Financial from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Wednesday, September 12th. ValuEngine upgraded Cincinnati Financial from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Sandler O’Neill reissued a “neutral” rating on shares of Cincinnati Financial in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $78.00.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation 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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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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