Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 12.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,280 shares of the insurance provider’s stock after buying an additional 1,783 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Cincinnati Financial were worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in CINF. Nuveen Asset Management LLC increased its position in Cincinnati Financial by 21,659.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 877,987 shares of the insurance provider’s stock valued at $91,021,000 after buying an additional 873,952 shares in the last quarter. APG Asset Management N.V. acquired a new position in shares of Cincinnati Financial in the second quarter valued at about $66,674,000. First Trust Advisors LP increased its holdings in shares of Cincinnati Financial by 80.8% in the first quarter. First Trust Advisors LP now owns 1,102,521 shares of the insurance provider’s stock valued at $94,707,000 after purchasing an additional 492,556 shares during the period. BlackRock Inc. increased its holdings in shares of Cincinnati Financial by 3.1% in the second quarter. BlackRock Inc. now owns 13,293,456 shares of the insurance provider’s stock valued at $1,378,132,000 after purchasing an additional 398,543 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Cincinnati Financial by 2.0% in the second quarter. Vanguard Group Inc. now owns 18,879,406 shares of the insurance provider’s stock valued at $1,957,228,000 after purchasing an additional 371,070 shares during the period. 64.06% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Buckingham Research increased their price objective on Cincinnati Financial from $92.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. ValuEngine lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada increased their price objective 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. Finally, BidaskClub raised Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Cincinnati Financial presently has a consensus rating of “Buy” and an average price target of $106.40.
Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.64 by $0.21. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.51 billion. Cincinnati Financial had a return on equity of 7.17% and a net margin of 18.28%. Cincinnati Financial’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. As a group, equities analysts expect 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. Investors of record on Wednesday, September 18th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is 66.87%.
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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