Strs Ohio Has $1,907,000 Stake in Cincinnati Financial Corp. (CINF)
Strs Ohio decreased its position in Cincinnati Financial Corp. (NASDAQ:CINF) by 9.7% during the second quarter, Holdings Channel reports. The institutional investor owned 25,469 shares of the company’s stock after selling 2,722 shares during the period. Strs Ohio’s holdings in Cincinnati Financial Corp. were worth $1,907,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Invictus RG boosted its position in shares of Cincinnati Financial Corp. by 3,001.2% in the first quarter. Invictus RG now owns 2,667 shares of the company’s stock worth $174,000 after buying an additional 2,581 shares in the last quarter. Capital One National Association bought a new position in shares of Cincinnati Financial Corp. during the second quarter worth approximately $231,000. Fox Run Management L.L.C. bought a new position in shares of Cincinnati Financial Corp. during the second quarter worth approximately $232,000. First Merchants Corp bought a new position in shares of Cincinnati Financial Corp. during the second quarter worth approximately $232,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Cincinnati Financial Corp. during the first quarter worth approximately $213,000. Institutional investors own 61.38% of the company’s stock.
Shares of Cincinnati Financial Corp. (NASDAQ:CINF) traded up 0.48% during mid-day trading on Monday, hitting $75.53. The stock had a trading volume of 373,708 shares. The firm’s 50 day moving average price is $75.82 and its 200-day moving average price is $71.54. Cincinnati Financial Corp. has a one year low of $53.64 and a one year high of $78.09. The company has a market cap of $12.43 billion, a PE ratio of 19.57 and a beta of 0.79.
Cincinnati Financial Corp. (NASDAQ:CINF) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.14. Cincinnati Financial Corp. had a net margin of 12.15% and a return on equity of 9.02%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $0.83 earnings per share. Cincinnati Financial Corp.’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cincinnati Financial Corp. will post $3.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 21st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Monday, September 19th. Cincinnati Financial Corp.’s dividend payout ratio (DPR) is presently 49.74%.
A number of brokerages have commented on CINF. Zacks Investment Research cut Cincinnati Financial Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. MKM Partners boosted their price objective on Cincinnati Financial Corp. from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, July 15th.
About Cincinnati Financial Corp.
Cincinnati Financial Corporation is an insurance holding company. The Company is engaged in the business of property casualty insurance marketed through independent insurance agencies in over 40 states. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, Life insurance and Investments.
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