7,072 Shares in Cincinnati Financial Co. (CINF) Purchased by Belpointe Asset Management LLC
Belpointe Asset Management LLC purchased a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,072 shares of the insurance provider’s stock, valued at approximately $542,000.
Other large investors have also modified their holdings of the company. Seven Eight Capital LP purchased a new stake in shares of Cincinnati Financial during the second quarter worth approximately $101,000. Korea Investment CORP increased its stake in shares of Cincinnati Financial by 142.0% during 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. Canada Pension Plan Investment Board increased its stake in shares of Cincinnati Financial by 12,727.3% during the third quarter. Canada Pension Plan Investment Board now owns 1,411 shares of the insurance provider’s stock worth $108,000 after buying an additional 1,400 shares during the period. People s United Financial Inc. increased its stake in shares of Cincinnati Financial by 6.5% during the second quarter. People s United Financial Inc. now owns 1,802 shares of the insurance provider’s stock worth $131,000 after buying an additional 110 shares during the period. Finally, San Francisco Sentry Investment Group CA purchased a new stake in shares of Cincinnati Financial during the second quarter worth approximately $152,000. Institutional investors own 64.55% of the company’s stock.
Shares of Cincinnati Financial Co. (CINF) opened at $72.65 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Co. has a one year low of $68.24 and a one year high of $81.98. The firm has a market cap of $12,088.81, a P/E ratio of 28.78 and a beta of 0.93.
Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 26th. The insurance provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. Cincinnati Financial had a net margin of 8.93% and a return on equity of 5.85%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. analysts predict that Cincinnati Financial Co. will post 2.65 EPS for the current fiscal year.
The firm also recently declared a special dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.50 dividend. This represents a yield of 2.72%. This is an increase from Cincinnati Financial’s previous special dividend of $0.46. The ex-dividend date of this dividend is Thursday, November 30th. Cincinnati Financial’s dividend payout ratio is 66.23%.
A number of research firms recently weighed in on CINF. BidaskClub lowered shares of Cincinnati Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $70.00 target price on shares of Cincinnati Financial in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $79.25.
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Cincinnati Financial Company Profile
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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