Quadrature Capital Ltd increased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 164.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,546 shares of the insurance provider’s stock after acquiring an additional 15,886 shares during the period. Quadrature Capital Ltd’s holdings in Cincinnati Financial were worth $1,635,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in CINF. Pathstone Family Office LLC purchased a new stake in Cincinnati Financial during the first quarter valued at about $26,000. FDx Advisors Inc. boosted its position in Cincinnati Financial by 256.7% during the first quarter. FDx Advisors Inc. now owns 25,179 shares of the insurance provider’s stock valued at $33,000 after buying an additional 18,121 shares during the period. Citizens Financial Group Inc RI boosted its position in Cincinnati Financial by 119.1% during the first quarter. Citizens Financial Group Inc RI now owns 447 shares of the insurance provider’s stock valued at $34,000 after buying an additional 243 shares during the period. Hanseatic Management Services Inc. boosted its position in Cincinnati Financial by 30.5% during the second quarter. Hanseatic Management Services Inc. now owns 599 shares of the insurance provider’s stock valued at $38,000 after buying an additional 140 shares during the period. Finally, Horan Securities Inc. purchased a new stake in Cincinnati Financial during the first quarter valued at about $47,000. Institutional investors own 64.65% of the company’s stock.
In other news, Director Thomas J. Aaron purchased 1,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $79.01 per share, for a total transaction of $79,010.00. Following the completion of the acquisition, the director now directly owns 159 shares in the company, valued at approximately $12,562.59. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Teresa C. Cracas sold 100,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $82.79, for a total transaction of $8,279,000.00. Following the sale, the senior vice president now owns 29,505 shares in the company, valued at approximately $2,442,718.95. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.
CINF traded up $0.49 during midday trading on Friday, reaching $81.08. The company’s stock had a trading volume of 631,596 shares, compared to its average volume of 579,128. The firm has a market capitalization of $13.04 billion, a price-to-earnings ratio of 24.20 and a beta of 0.55. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.10. Cincinnati Financial Co. has a 1 year low of $46.07 and a 1 year high of $118.19. The stock’s 50-day moving average is $79.84 and its 200-day moving average is $75.85.
Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Cincinnati Financial had a net margin of 25.20% and a return on equity of 6.46%. The business’s revenue was up 41.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, equities research analysts forecast that Cincinnati Financial Co. will post 3.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 16th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, September 15th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 57.14%.
Several equities analysts have recently commented on the stock. BidaskClub downgraded shares of Cincinnati Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Deutsche Bank raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating and set a $63.00 price objective for the company in a research note on Tuesday, June 16th. Royal Bank of Canada raised shares of Cincinnati Financial from a “sector perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Wednesday, June 3rd. Zacks Investment Research downgraded shares of Cincinnati Financial from a “hold” rating to a “sell” rating and set a $56.00 price objective for the company. in a research note on Tuesday, May 19th. Finally, TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b-” rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Cincinnati Financial currently has a consensus rating of “Hold” and a consensus price target of $74.13.
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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