Bank of Montreal Can Invests $13,230,000 in Cincinnati Financial Corp. (CINF)
Bank of Montreal Can acquired a new position in shares of Cincinnati Financial Corp. (NASDAQ:CINF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 176,660 shares of the company’s stock, valued at approximately $13,230,000. Bank of Montreal Can owned 0.11% of Cincinnati Financial Corp. at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CINF. Renaissance Technologies LLC boosted its position in Cincinnati Financial Corp. by 228.7% in the first quarter. Renaissance Technologies LLC now owns 967,700 shares of the company’s stock worth $63,249,000 after buying an additional 673,300 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Cincinnati Financial Corp. by 53.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,159,746 shares of the company’s stock worth $75,801,000 after buying an additional 402,619 shares during the last quarter. UBS Group AG boosted its position in Cincinnati Financial Corp. by 42.9% in the first quarter. UBS Group AG now owns 503,840 shares of the company’s stock worth $32,931,000 after buying an additional 151,216 shares during the last quarter. Avalon Advisors LLC boosted its position in Cincinnati Financial Corp. by 335.2% in the first quarter. Avalon Advisors LLC now owns 169,447 shares of the company’s stock worth $11,075,000 after buying an additional 130,515 shares during the last quarter. Finally, ING Groep NV bought a new position in Cincinnati Financial Corp. during the first quarter worth approximately $6,811,000. Institutional investors and hedge funds own 61.38% of the company’s stock.
Cincinnati Financial Corp. (NASDAQ:CINF) traded up 1.18% during mid-day trading on Friday, reaching $75.42. 636,891 shares of the company were exchanged. Cincinnati Financial Corp. has a 1-year low of $53.64 and a 1-year high of $78.09. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 19.54 and a beta of 0.78. The stock’s 50-day moving average price is $76.02 and its 200-day moving average price is $71.23.
Cincinnati Financial Corp. (NASDAQ:CINF) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. Cincinnati Financial Corp. had a return on equity of 9.02% and a net margin of 12.15%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cincinnati Financial Corp. will post $3.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 21st will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $1.92 annualized dividend and a dividend yield of 2.55%. Cincinnati Financial Corp.’s dividend payout ratio is presently 49.74%.
CINF has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Cincinnati Financial Corp. from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Wednesday, July 20th. MKM Partners upped their price objective on shares of Cincinnati Financial Corp. from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, July 15th.
Cincinnati Financial Corp. Company Profile
Cincinnati Financial Corporation is an insurance holding company. The Company is engaged in the business of property casualty insurance marketed through independent insurance agencies in over 40 states. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, Life insurance and Investments.
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