Brinker Capital Investments LLC bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 78,378 shares of the insurance provider’s stock, valued at approximately $8,108,000.
Several other institutional investors have also made changes to their positions in CINF. Inspire Advisors LLC acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at $40,000. Grant Street Asset Management Inc. acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at $79,000. Leelyn Smith LLC increased its stake in Cincinnati Financial by 30.0% in the 1st quarter. Leelyn Smith LLC now owns 910 shares of the insurance provider’s stock valued at $94,000 after buying an additional 210 shares during the period. Vantage Consulting Group Inc acquired a new position in Cincinnati Financial in the 4th quarter valued at $102,000. Finally, Hills Bank & Trust Co acquired a new position in Cincinnati Financial in the 1st quarter valued at $103,000. 66.91% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Charles Odell Schiff sold 10,100 shares of the business’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $119.82, for a total value of $1,210,182.00. 8.22% of the stock is owned by insiders.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, April 28th. The insurance provider reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.32. Cincinnati Financial had a net margin of 31.05% and a return on equity of 6.04%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was down 2349.5% on a year-over-year basis. On average, analysts forecast that Cincinnati Financial Co. will post 4.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Thursday, June 17th will be given a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, June 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.07%. Cincinnati Financial’s dividend payout ratio is presently 76.83%.
Several brokerages have issued reports on CINF. Zacks Investment Research raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Thursday, February 11th. MKM Partners boosted their price objective on shares of Cincinnati Financial from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, March 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cincinnati Financial from $88.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, May 4th. Finally, Royal Bank of Canada boosted their price objective on shares of Cincinnati Financial from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, April 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Cincinnati Financial currently has an average rating of “Buy” and an average price target of $110.75.
About Cincinnati Financial
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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