Cincinnati Financial Corporation (CINF) Position Reduced by WINTON GROUP Ltd
WINTON GROUP Ltd decreased its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 84.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,926 shares of the insurance provider’s stock after selling 54,670 shares during the quarter. WINTON GROUP Ltd’s holdings in Cincinnati Financial Corporation were worth $719,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CINF. Seven Eight Capital LP acquired a new position in shares of Cincinnati Financial Corporation during the second quarter valued at $101,000. Korea Investment CORP lifted its stake in shares of Cincinnati Financial Corporation by 142.0% during the second quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 852 shares during the period. People s United Financial Inc. lifted its stake in shares of Cincinnati Financial Corporation by 6.5% during the second quarter. People s United Financial Inc. now owns 1,802 shares of the insurance provider’s stock valued at $131,000 after acquiring an additional 110 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in shares of Cincinnati Financial Corporation during the second quarter valued at $152,000. Finally, First Heartland Consultants Inc. acquired a new position in shares of Cincinnati Financial Corporation during the second quarter valued at $210,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.
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Several equities analysts have recently issued reports on the company. BidaskClub lowered Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $70.00 price objective on shares of Cincinnati Financial Corporation in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $79.25.
Shares of Cincinnati Financial Corporation (CINF) opened at 76.46 on Friday. Cincinnati Financial Corporation has a 12-month low of $68.11 and a 12-month high of $81.98. The company has a 50-day moving average price of $76.27 and a 200-day moving average price of $73.84. The company has a market cap of $12.54 billion, a P/E ratio of 21.91 and a beta of 0.90.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.18. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.38 billion. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. On average, analysts predict that Cincinnati Financial Corporation will post $2.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 22nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Thursday, September 21st. Cincinnati Financial Corporation’s payout ratio is presently 57.31%.
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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