Louisiana State Employees Retirement System Sells 200 Shares of Cincinnati Financial Corp. (CINF)
Louisiana State Employees Retirement System decreased its position in Cincinnati Financial Corp. (NASDAQ:CINF) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,700 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Cincinnati Financial Corp. were worth $726,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Cincinnati Financial Corp. during the second quarter worth $13,230,000. Shell Asset Management Co. increased its position in Cincinnati Financial Corp. by 159.4% in the second quarter. Shell Asset Management Co. now owns 23,494 shares of the company’s stock worth $1,759,000 after buying an additional 14,438 shares during the period. Daiwa Securities Group Inc. increased its position in Cincinnati Financial Corp. by 210.5% in the second quarter. Daiwa Securities Group Inc. now owns 66,965 shares of the company’s stock worth $5,015,000 after buying an additional 45,400 shares during the period. Trust Co. of Toledo NA OH increased its position in Cincinnati Financial Corp. by 1.7% in the second quarter. Trust Co. of Toledo NA OH now owns 8,734 shares of the company’s stock worth $654,000 after buying an additional 150 shares during the period. Finally, Sigma Planning Corp increased its position in Cincinnati Financial Corp. by 0.6% in the second quarter. Sigma Planning Corp now owns 4,422 shares of the company’s stock worth $331,000 after buying an additional 25 shares during the period. 61.38% of the stock is owned by hedge funds and other institutional investors.
Cincinnati Financial Corp. (NASDAQ:CINF) traded down 1.23% during midday trading on Tuesday, hitting $74.60. The stock had a trading volume of 473,201 shares. The stock has a market capitalization of $12.28 billion, a PE ratio of 19.33 and a beta of 0.79. The stock’s 50-day moving average is $75.81 and its 200-day moving average is $71.71. Cincinnati Financial Corp. has a 1-year low of $53.64 and a 1-year high of $78.09.
Cincinnati Financial Corp. (NASDAQ:CINF) last issued its 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. The business earned $1.37 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cincinnati Financial Corp. had a return on equity of 9.02% and a net margin of 12.15%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. On average, equities research analysts anticipate that Cincinnati Financial Corp. will post $3.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 21st will be issued a $0.48 dividend. The ex-dividend date is Monday, September 19th. This represents a $1.92 dividend on an annualized basis and a yield of 2.57%. Cincinnati Financial Corp.’s payout ratio is currently 49.74%.
A number of equities analysts have weighed in on the company. Zacks Investment Research downgraded Cincinnati Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. MKM Partners upped their price target on Cincinnati Financial Corp. from $80.00 to $90.00 and gave the stock a “buy” rating in a research report 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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