Keybank National Association OH decreased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,206 shares of the insurance provider’s stock after selling 15,505 shares during the quarter. Keybank National Association OH owned about 0.30% of Cincinnati Financial worth $50,613,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CINF. Hanson & Doremus Investment Management purchased a new position in Cincinnati Financial in the second quarter valued at $40,000. Gradient Investments LLC acquired a new stake in Cincinnati Financial in the second quarter valued at about $46,000. Meridian Wealth Management LLC acquired a new stake in Cincinnati Financial in the first quarter valued at about $48,000. Parallel Advisors LLC lifted its position in Cincinnati Financial by 30.5% in the first quarter. Parallel Advisors LLC now owns 758 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 177 shares during the period. Finally, Clarus Wealth Advisors lifted its position in Cincinnati Financial by 47.6% in the second quarter. Clarus Wealth Advisors now owns 766 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 247 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:CINF traded up $0.89 during mid-day trading on Tuesday, reaching $109.55. The stock had a trading volume of 86,613 shares, compared to its average volume of 726,961. Cincinnati Financial Co. has a twelve month low of $71.01 and a twelve month high of $110.70. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.10. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 32.70 and a beta of 0.65. The firm’s 50 day moving average price is $106.75.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 18th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $2.24 dividend on an annualized basis and a yield of 2.04%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.87%.
A number of brokerages recently commented on CINF. Credit Suisse Group upgraded shares of Cincinnati Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $90.00 to $110.00 in a research report on Friday, May 17th. BidaskClub upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of Cincinnati Financial to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. They noted that the move was a valuation call. Finally, MKM Partners restated a “buy” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Cincinnati Financial in a research report on Friday, May 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.40.
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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