Crossmark Global Holdings Inc. decreased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,231 shares of the insurance provider’s stock after selling 171 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cincinnati Financial were worth $1,137,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CINF. Vanguard Group Inc lifted its position in Cincinnati Financial by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 17,645,128 shares of the insurance provider’s stock worth $1,355,324,000 after acquiring an additional 215,956 shares during the period. BlackRock Inc. lifted its position in Cincinnati Financial by 4.6% during the 4th quarter. BlackRock Inc. now owns 13,530,397 shares of the insurance provider’s stock worth $1,047,524,000 after acquiring an additional 598,513 shares during the period. JPMorgan Chase & Co. lifted its position in Cincinnati Financial by 11.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,334,300 shares of the insurance provider’s stock worth $256,108,000 after acquiring an additional 354,822 shares during the period. Geode Capital Management LLC lifted its position in Cincinnati Financial by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 2,228,263 shares of the insurance provider’s stock worth $172,245,000 after acquiring an additional 208,449 shares during the period. Finally, Northern Trust Corp lifted its position in Cincinnati Financial by 3.9% during the 4th quarter. Northern Trust Corp now owns 1,914,400 shares of the insurance provider’s stock worth $148,212,000 after acquiring an additional 72,304 shares during the period. 65.12% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on CINF. BidaskClub raised Cincinnati Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research cut Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Credit Suisse Group raised Cincinnati Financial from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $75.00 to $90.00 in a research report on Wednesday, February 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $89.00.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Cincinnati Financial had a return on equity of 7.35% and a net margin of 15.97%. The company’s revenue for the quarter was up 76.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. As a group, equities research analysts expect that Cincinnati Financial Co. will post 3.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, June 19th will be issued a $0.56 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $2.24 annualized dividend and a dividend yield of 2.34%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.87%.
In related news, Director Dirk J. Debbink acquired 351 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was acquired at an average price of $85.48 per share, with a total value of $30,003.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.16% of the company’s stock.
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About Cincinnati Financial
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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