Zurcher Kantonalbank Zurich Cantonalbank continued to hold its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 32,041 shares of the insurance provider’s stock at the end of the first quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cincinnati Financial were worth $2,316,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $118,284,000. State Street Corp raised its stake in shares of Cincinnati Financial by 8.8% in the fourth quarter. State Street Corp now owns 9,738,423 shares of the insurance provider’s stock valued at $737,679,000 after buying an additional 791,500 shares in the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Cincinnati Financial by 58.6% in the third quarter. Johnson Investment Counsel Inc. now owns 940,445 shares of the insurance provider’s stock valued at $70,928,000 after buying an additional 347,375 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Cincinnati Financial by 627.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 265,940 shares of the insurance provider’s stock valued at $20,148,000 after buying an additional 229,403 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Cincinnati Financial by 100.0% in the third quarter. Panagora Asset Management Inc. now owns 352,763 shares of the insurance provider’s stock valued at $26,605,000 after buying an additional 176,420 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Cincinnati Financial Co. (NASDAQ:CINF) traded up 0.52% during midday trading on Friday, hitting $69.34. The stock had a trading volume of 253,307 shares. The stock has a market cap of $11.42 billion, a PE ratio of 19.10 and a beta of 0.81. Cincinnati Financial Co. has a 12 month low of $67.14 and a 12 month high of $79.60. The stock’s 50-day moving average is $70.72 and its 200-day moving average is $72.74.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.37 billion. Cincinnati Financial had a return on equity of 7.33% and a net margin of 10.85%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. Equities analysts anticipate that Cincinnati Financial Co. will post $2.80 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Wednesday, June 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.90%. Cincinnati Financial’s payout ratio is currently 54.08%.
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CINF has been the subject of several research analyst reports. Zacks Investment Research raised Cincinnati Financial from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Tuesday, March 14th. Keefe, Bruyette & Woods set a $70.00 target price on Cincinnati Financial and gave the company a “hold” rating in a research report on Wednesday, March 22nd. Finally, MKM Partners reaffirmed a “buy” rating and set a $90.00 target price on shares of Cincinnati Financial in a research report on Friday, February 10th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Cincinnati Financial currently has a consensus rating of “Hold” and a consensus target price of $81.00.
In other Cincinnati Financial news, Director David P. Osborn purchased 1,925 shares of the stock in a transaction dated Monday, May 8th. The shares were purchased at an average cost of $70.00 per share, with a total value of $134,750.00. Following the completion of the acquisition, the director now directly owns 21,542 shares in the company, valued at approximately $1,507,940. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.22% of the company’s stock.
Cincinnati Financial Company Profile
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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