Schwab Charles Investment Management Inc. Has $39.06 Million Holdings in Cincinnati Financial Co. (CINF)
Schwab Charles Investment Management Inc. raised its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 520,969 shares of the insurance provider’s stock after acquiring an additional 31,243 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Cincinnati Financial were worth $39,058,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CINF. Thrivent Financial For Lutherans lifted its stake in shares of Cincinnati Financial by 3.5% in the second quarter. Thrivent Financial For Lutherans now owns 5,688 shares of the insurance provider’s stock worth $412,000 after buying an additional 190 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cincinnati Financial by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 804,060 shares of the insurance provider’s stock valued at $58,255,000 after purchasing an additional 2,504 shares during the last quarter. Gotham Asset Management LLC acquired a new position in Cincinnati Financial during the 2nd quarter valued at $338,000. The Manufacturers Life Insurance Company raised its stake in Cincinnati Financial by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 178,596 shares of the insurance provider’s stock valued at $12,939,000 after purchasing an additional 19,003 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Cincinnati Financial by 7.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 28,885 shares of the insurance provider’s stock valued at $2,093,000 after purchasing an additional 1,966 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.
CINF has been the subject of several research analyst reports. BidaskClub upgraded shares of Cincinnati Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 30th. Zacks Investment Research upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Monday, January 15th. Langen Mcalenn reiterated a “neutral” rating on shares of Cincinnati Financial in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Cincinnati Financial in a research note on Thursday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $78.50.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. 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 18.23% and a return on equity of 5.99%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. equities research analysts forecast that Cincinnati Financial Co. will post 3.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Wednesday, March 21st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, March 20th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.50. Cincinnati Financial’s payout ratio is 31.75%.
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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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