Crossmark Global Holdings Inc. reduced its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 28.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,402 shares of the insurance provider’s stock after selling 5,200 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cincinnati Financial were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CINF. Select Equity Group L.P. increased its stake in Cincinnati Financial by 8.3% during the third quarter. Select Equity Group L.P. now owns 5,932,047 shares of the insurance provider’s stock worth $455,641,000 after acquiring an additional 456,964 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Cincinnati Financial by 11.9% during the third 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 last quarter. Vanguard Group Inc increased its stake in Cincinnati Financial by 1.2% during the third 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 last quarter. Cornerstone Wealth Management LLC acquired a new stake in Cincinnati Financial during the third quarter worth about $2,476,000. Finally, BlackRock Inc. increased its stake in Cincinnati Financial by 1.3% during the third quarter. BlackRock Inc. now owns 12,931,884 shares of the insurance provider’s stock worth $993,300,000 after acquiring an additional 170,360 shares during the last quarter. Hedge funds and other institutional investors own 63.54% of the company’s stock.
Shares of NASDAQ:CINF opened at $84.02 on Monday. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of 25.08 and a beta of 0.62. The company has a quick ratio of 0.27, a current ratio of 0.28 and a debt-to-equity ratio of 0.11. Cincinnati Financial Co. has a 12 month low of $66.33 and a 12 month high of $85.91.
Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Wednesday, February 6th. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Cincinnati Financial had a return on equity of 6.86% and a net margin of 5.31%. The business had revenue of $710.00 million during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was down 49.7% compared to the same quarter last year. Research analysts predict that Cincinnati Financial Co. will post 3.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, March 20th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.67%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.53. Cincinnati Financial’s dividend payout ratio (DPR) is 63.28%.
CINF has been the subject of several research analyst reports. Zacks Investment Research lowered Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 25th. BidaskClub upgraded Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 15th. Finally, Buckingham Research initiated coverage on Cincinnati Financial in a research note on Friday, December 14th. They set a “neutral” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $79.00.
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Cincinnati Financial Profile
Cincinnati Financial Corporation 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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