OLD Republic International Corp Maintains Stake in Cincinnati Financial Corporation (NASDAQ:CINF)
OLD Republic International Corp held its position in Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, Holdings Channel reports. The firm owned 579,700 shares of the insurance provider’s stock at the end of the second quarter. Cincinnati Financial Corporation accounts for about 1.4% of OLD Republic International Corp’s investment portfolio, making the stock its 25th largest position. OLD Republic International Corp’s holdings in Cincinnati Financial Corporation were worth $41,999,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Korea Investment CORP raised its position in Cincinnati Financial Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock worth $105,000 after buying an additional 852 shares during the period. Clarius Group LLC acquired a new position in Cincinnati Financial Corporation during the first quarter worth $130,000. MCF Advisors LLC raised its position in Cincinnati Financial Corporation by 2.4% in the first quarter. MCF Advisors LLC now owns 2,243 shares of the insurance provider’s stock worth $162,000 after buying an additional 52 shares during the period. First Manhattan Co. raised its position in Cincinnati Financial Corporation by 36.2% in the first quarter. First Manhattan Co. now owns 2,437 shares of the insurance provider’s stock worth $183,000 after buying an additional 648 shares during the period. Finally, First Heartland Consultants Inc. acquired a new position in Cincinnati Financial Corporation during the second quarter worth $210,000. 63.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cincinnati Financial Corporation (CINF) opened at 79.00 on Friday. The firm has a market cap of $12.95 billion, a P/E ratio of 22.64 and a beta of 0.89. Cincinnati Financial Corporation has a one year low of $68.11 and a one year high of $81.98. The stock’s 50 day moving average is $74.78 and its 200-day moving average is $72.37.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.18. Cincinnati Financial Corporation had a net margin of 10.33% and a return on equity of 6.57%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts anticipate that Cincinnati Financial Corporation will post $2.90 EPS for the current fiscal year.
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A number of research analysts have weighed in on the stock. BidaskClub lowered shares of Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Royal Bank Of Canada reissued a “hold” rating and issued a $72.00 target price on shares of Cincinnati Financial Corporation in a research note on Monday, May 22nd. Zacks Investment Research lowered shares of Cincinnati Financial Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. Finally, Keefe, Bruyette & Woods set a $70.00 target price on shares of Cincinnati Financial Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $78.75.
About Cincinnati Financial Corporation
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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