Narwhal Capital Management lessened its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 20.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,605 shares of the insurance provider's stock after selling 16,585 shares during the period. Narwhal Capital Management's holdings in Cincinnati Financial were worth $8,522,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC bought a new position in Cincinnati Financial during the 3rd quarter worth approximately $25,000. Rothschild Investment LLC bought a new position in Cincinnati Financial during the second quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new position in Cincinnati Financial in the third quarter worth $29,000. Massmutual Trust Co. FSB ADV increased its stake in Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Cincinnati Financial during the third quarter worth $33,000. 65.24% of the stock is owned by institutional investors and hedge funds.
Cincinnati Financial Stock Performance
Cincinnati Financial stock traded up $0.28 during mid-day trading on Wednesday, hitting $138.88. 373,610 shares of the company's stock traded hands, compared to its average volume of 708,267. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a one year low of $96.86 and a one year high of $142.25. The firm has a 50 day moving average price of $135.52 and a 200 day moving average price of $124.90. The company has a market cap of $21.74 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.33. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 earnings per share. On average, equities analysts forecast that Cincinnati Financial Co. will post 6.58 EPS for the current year.
Cincinnati Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, September 17th. Cincinnati Financial's dividend payout ratio (DPR) is presently 21.56%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on CINF. Bank of America boosted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Roth Mkm increased their price target on Cincinnati Financial from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Finally, Citigroup upgraded Cincinnati Financial from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $136.29.
Read Our Latest Stock Analysis on Cincinnati Financial
About Cincinnati Financial
(
Free Report)
Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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