1 week Ago By ABMN Staff
National Bank of Canada FI raised its stake in shares of Cincinnati Financial Co. ( NASDAQ:CINF – Free Report ) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission.
The firm owned 143,127 shares of the insurance provider’s stock after buying an additional 8,353 shares during the period. National Bank of Canada FI owned approximately 0.09% of Cincinnati Financial worth $17,059,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Cincinnati Financial during the 4th quarter valued at $179,305,000. Balyasny Asset Management L.
P. boosted its position in shares of Cincinnati Financial by 36.1% during the 4th quarter.
Balyasny Asset Management L.P. now owns 679,861 shares of the insurance provider’s stock valued at $70,338,000 after purchasing an additional 180,355 shares in the last quarter.
Natixis acquired a new position in shares of Cincinnati Financial in the 1st quarter worth approximately $22,053,000. Bank of Nova Scotia lifted its stake in Cincinnati Financial by 375.8% during the fourth quarter.
Bank of Nova Scotia now owns 164,455 shares of the insurance provider’s stock valued at $17,014,000 after purchasing an additional 129,889 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Cincinnati Financial by 126.4% during the second quarter.
TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock worth $21,259,000 after buying an additional 100,487 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades CINF has been the subject of a number of recent research reports. Bank of America cut their price objective on Cincinnati Financial from $151.00 to $149.
00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $126.00 to $135.
00 in a report on Friday, June 28th. Roth Mkm increased their price target on Cincinnati Financial from $130.00 to $140.
00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $146.00 to $150.
00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.
57. Cincinnati Financial Trading Down 0.7 % Shares of NASDAQ CINF opened at $135.
39 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.
27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co.
has a one year low of $96.86 and a one year high of $139.34.
The business has a 50-day moving average price of $127.13 and a two-hundred day moving average price of $120.64.
The firm has a market capitalization of $21.20 billion, a PE ratio of 9.01, a PEG ratio of 2.
66 and a beta of 0.66. Cincinnati Financial ( NASDAQ:CINF – Get Free Report ) last posted its quarterly earnings results on Thursday, July 25th.
The insurance provider reported $1.29 EPS for the quarter, topping the consensus estimate of $0.96 by $0.
33. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.
21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.
10%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year.
During the same period last year, the company posted $1.21 earnings per share. As a group, analysts predict that Cincinnati Financial Co.
will post 6.58 earnings per share for the current fiscal year. Cincinnati Financial Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th.
Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. This represents a $3.
24 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Tuesday, September 17th.
Cincinnati Financial’s dividend payout ratio is currently 21.56%. About Cincinnati Financial ( Free Report ) Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States.
It 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. Further Reading Receive News & Ratings for Cincinnati Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial and related companies with MarketBeat.
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