Trexquant Investment LP purchased a new position in Cincinnati Financial (NASDAQ:CINF) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,604 shares of the insurance provider’s stock, valued at approximately $565,000.
A number of other institutional investors also recently made changes to their positions in the business. Mackay Shields LLC purchased a new position in Cincinnati Financial in the 1st quarter worth approximately $9,741,000. Zeke Capital Advisors LLC purchased a new position in Cincinnati Financial in the 1st quarter worth approximately $268,000. DekaBank Deutsche Girozentrale increased its stake in Cincinnati Financial by 131.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 19,766 shares of the insurance provider’s stock worth $1,527,000 after purchasing an additional 11,218 shares during the period. SG Americas Securities LLC increased its stake in Cincinnati Financial by 54.6% in the 1st quarter. SG Americas Securities LLC now owns 45,755 shares of the insurance provider’s stock worth $3,398,000 after purchasing an additional 16,157 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in Cincinnati Financial by 1.1% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 253,224 shares of the insurance provider’s stock worth $18,804,000 after purchasing an additional 2,685 shares during the period. 63.81% of the stock is currently owned by institutional investors and hedge funds.
CINF has been the topic of a number of analyst reports. Zacks Investment Research cut Cincinnati Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. BidaskClub raised Cincinnati Financial from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Cincinnati Financial in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $74.67.
Shares of CINF stock opened at $70.73 on Friday. The company has a market capitalization of $11.61 billion, a PE ratio of 24.64 and a beta of 0.85. Cincinnati Financial has a fifty-two week low of $68.33 and a fifty-two week high of $81.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.27 and a current ratio of 0.27.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, April 25th. The insurance provider reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.08). The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.44 billion. Cincinnati Financial had a return on equity of 6.14% and a net margin of 14.96%. Cincinnati Financial’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. research analysts forecast that Cincinnati Financial will post 2.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Wednesday, June 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.00%. Cincinnati Financial’s dividend payout ratio is currently 77.37%.
About Cincinnati Financial
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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