Seeyond Purchases 3,880 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Seeyond boosted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 36.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 14,473 shares of the insurance provider’s stock after purchasing an additional 3,880 shares during the period. Seeyond’s holdings in Cincinnati Financial were worth $1,500,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in shares of Cincinnati Financial during the 2nd quarter worth approximately $25,000. Kavar Capital Partners LLC acquired a new position in Cincinnati Financial during the second quarter valued at approximately $26,000. Hanson & Doremus Investment Management acquired a new position in Cincinnati Financial during the second quarter valued at approximately $40,000. Gradient Investments LLC bought a new stake in Cincinnati Financial during the second quarter worth $46,000. Finally, Meridian Wealth Management LLC bought a new stake in Cincinnati Financial during the first quarter worth $48,000. Hedge funds and other institutional investors own 63.94% of the company’s stock.

Shares of Cincinnati Financial stock traded down $1.12 during midday trading on Wednesday, hitting $110.66. 16,769 shares of the company traded hands, compared to its average volume of 534,662. The firm’s fifty day moving average price is $109.58 and its 200-day moving average price is $98.67. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 33.13 and a beta of 0.64. Cincinnati Financial Co. has a 12 month low of $71.01 and a 12 month high of $115.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.21. Cincinnati Financial had a net margin of 18.28% and a return on equity of 7.17%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The firm’s revenue was up 22.8% compared to the same quarter last year. Equities research analysts forecast that Cincinnati Financial Co. will post 3.75 earnings per share for the current year.

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 paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.02%. Cincinnati Financial’s payout ratio is presently 66.87%.

CINF has been the topic of a number of research analyst reports. Royal Bank of Canada raised their target price on Cincinnati Financial to $105.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Credit Suisse Group raised Cincinnati Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $90.00 to $110.00 in a report on Friday, May 17th. BidaskClub upgraded Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $120.00 price objective (up from $100.00) on shares of Cincinnati Financial in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Cincinnati Financial presently has an average rating of “Buy” and an average price target of $102.40.

Cincinnati Financial Profile

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

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