Pacer Advisors Inc. Boosts Position in Cincinnati Financial Corporation (CINF)
Pacer Advisors Inc. boosted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 8.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,148 shares of the insurance provider’s stock after buying an additional 232 shares during the period. Pacer Advisors Inc.’s holdings in Cincinnati Financial Corporation were worth $228,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Korea Investment CORP raised its holdings 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 valued at $105,000 after buying an additional 852 shares during the period. First Heartland Consultants Inc. purchased a new position in Cincinnati Financial Corporation in the second quarter valued at approximately $210,000. Beese Fulmer Investment Management Inc. raised its holdings in Cincinnati Financial Corporation by 3.4% in the second quarter. Beese Fulmer Investment Management Inc. now owns 3,057 shares of the insurance provider’s stock valued at $221,000 after buying an additional 100 shares during the period. Park Avenue Securities LLC purchased a new position in Cincinnati Financial Corporation in the second quarter valued at approximately $226,000. Finally, BlueCrest Capital Management Ltd purchased a new position in Cincinnati Financial Corporation in the first quarter valued at approximately $227,000. Hedge funds and other institutional investors own 63.12% of the company’s stock.
Shares of Cincinnati Financial Corporation (CINF) opened at 75.22 on Friday. Cincinnati Financial Corporation has a 1-year low of $68.11 and a 1-year high of $81.98. The stock’s 50 day moving average is $77.35 and its 200-day moving average is $73.26. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 21.55 and a beta of 0.89.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.18. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. On average, analysts anticipate that Cincinnati Financial Corporation will post $2.90 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 22nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.66%. Cincinnati Financial Corporation’s payout ratio is 57.31%.
Several research analysts recently commented on CINF shares. BidaskClub lowered shares of Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded shares of Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods set a $70.00 price target on shares of Cincinnati Financial Corporation and gave the company a “hold” rating in a report on Wednesday, May 24th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $72.00 price target on shares of Cincinnati Financial Corporation in a report on Monday, May 22nd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $79.50.
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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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