Private Trust Co. NA grew its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,421 shares of the insurance provider’s stock after buying an additional 122 shares during the quarter. Private Trust Co. NA’s holdings in Cincinnati Financial were worth $895,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Cincinnati Financial by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 3,334,300 shares of the insurance provider’s stock worth $256,108,000 after purchasing an additional 354,822 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Cincinnati Financial by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 1,352,615 shares of the insurance provider’s stock worth $103,894,000 after purchasing an additional 50,776 shares in the last quarter. American International Group Inc. grew its stake in Cincinnati Financial by 6.5% in the third quarter. American International Group Inc. now owns 67,432 shares of the insurance provider’s stock worth $5,179,000 after purchasing an additional 4,098 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Cincinnati Financial by 3.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 20,062 shares of the insurance provider’s stock worth $1,589,000 after purchasing an additional 714 shares in the last quarter. Finally, Credit Suisse AG grew its stake in Cincinnati Financial by 4.7% in the third quarter. Credit Suisse AG now owns 268,747 shares of the insurance provider’s stock worth $20,643,000 after purchasing an additional 11,949 shares in the last quarter. 64.12% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Dirk J. Debbink bought 351 shares of the stock in a transaction on Friday, February 15th. The stock was bought at an average price of $85.48 per share, for a total transaction of $30,003.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.16% of the stock is owned by corporate insiders.
Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Wednesday, April 24th. The insurance provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $1.47 billion. Cincinnati Financial had a return on equity of 6.86% and a net margin of 5.31%. Cincinnati Financial’s revenue was up 76.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. Analysts anticipate that Cincinnati Financial Co. will post 3.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, March 20th were issued a dividend of $0.56 per share. The ex-dividend date was Tuesday, March 19th. This represents a $2.24 dividend on an annualized basis and a yield of 2.55%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.53. Cincinnati Financial’s dividend payout ratio is currently 66.87%.
Several research analysts recently issued reports on the company. BidaskClub raised Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Zacks Investment Research cut Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Credit Suisse Group raised Cincinnati Financial from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $75.00 to $90.00 in a research note on Wednesday, February 27th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $89.00.
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Cincinnati Financial Company Profile
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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