Cincinnati Financial Corp. (CINF) is Welch Group LLC’s 2nd Largest Position
Welch Group LLC reduced its position in shares of Cincinnati Financial Corp. (NASDAQ:CINF) by 23.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 226,875 shares of the company’s stock after selling 70,668 shares during the period. Cincinnati Financial Corp. accounts for about 3.5% of Welch Group LLC’s portfolio, making the stock its 2nd largest position. Welch Group LLC owned about 0.14% of Cincinnati Financial Corp. worth $16,991,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of 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 shares of 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 in the last quarter. Bank of Montreal Can bought a new position in shares of Cincinnati Financial Corp. during the second quarter worth approximately $13,230,000. UBS Group AG boosted its position in shares of 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 in the last quarter. Finally, Avalon Advisors LLC boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 61.38% of the company’s stock.
Cincinnati Financial Corp. (NASDAQ:CINF) traded down 1.27% on Monday, hitting $74.46. The company had a trading volume of 791,407 shares. The firm’s 50 day moving average price is $76.02 and its 200 day moving average price is $71.23. The stock has a market cap of $12.25 billion, a P/E ratio of 19.29 and a beta of 0.79. Cincinnati Financial Corp. has a 12-month low of $53.64 and a 12-month high of $78.09.
Cincinnati Financial Corp. (NASDAQ:CINF) last announced its earnings results on Tuesday, July 26th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. Cincinnati Financial Corp. had a net margin of 12.15% and a return on equity of 9.02%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.83 EPS. The company’s revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Cincinnati Financial Corp. will post $3.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 21st will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Monday, September 19th. Cincinnati Financial Corp.’s dividend payout ratio (DPR) is currently 49.74%.
A number of brokerages have commented on CINF. MKM Partners boosted their price objective on Cincinnati Financial Corp. from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, July 15th. Zacks Investment Research cut Cincinnati Financial Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th.
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.
Receive News & Stock Ratings for Cincinnati Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial Corp. and related stocks with our FREE daily email newsletter.