Lazard Asset Management LLC Increases Position in Cincinnati Financial Co. (NASDAQ:CINF)

Lazard Asset Management LLC boosted its holdings in Cincinnati Financial Co. (NASDAQ:CINFGet Rating) by 255.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,120 shares of the insurance provider’s stock after purchasing an additional 18,060 shares during the quarter. Lazard Asset Management LLC’s holdings in Cincinnati Financial were worth $2,988,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CINF. First Trust Advisors LP grew its holdings in shares of Cincinnati Financial by 358.1% during the first quarter. First Trust Advisors LP now owns 1,987,502 shares of the insurance provider’s stock valued at $270,221,000 after buying an additional 1,553,670 shares during the last quarter. State Street Corp grew its holdings in shares of Cincinnati Financial by 4.1% during the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock valued at $1,246,056,000 after buying an additional 360,552 shares during the last quarter. Cassady Schiller Wealth Management LLC grew its holdings in shares of Cincinnati Financial by 5,479.0% during the first quarter. Cassady Schiller Wealth Management LLC now owns 330,335 shares of the insurance provider’s stock valued at $44,912,000 after buying an additional 324,414 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Cincinnati Financial by 1.2% during the first quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock valued at $2,453,379,000 after buying an additional 211,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cincinnati Financial by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,422,692 shares of the insurance provider’s stock valued at $329,390,000 after buying an additional 175,968 shares during the last quarter. Hedge funds and other institutional investors own 64.52% of the company’s stock.

Cincinnati Financial Stock Down 0.5 %

CINF opened at $105.86 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.09. Cincinnati Financial Co. has a 1-year low of $88.66 and a 1-year high of $143.22. The company has a market capitalization of $16.64 billion, a PE ratio of -294.06 and a beta of 0.61. The firm’s 50 day simple moving average is $98.76 and its two-hundred day simple moving average is $108.43.

Cincinnati Financial (NASDAQ:CINFGet Rating) last released its quarterly earnings results on Monday, October 31st. The insurance provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. Cincinnati Financial had a negative net margin of 0.43% and a positive return on equity of 7.00%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm earned $1.28 earnings per share. The company’s quarterly revenue was down 21.1% on a year-over-year basis. As a group, equities analysts forecast that Cincinnati Financial Co. will post 4.22 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 16th were given a $0.69 dividend. The ex-dividend date was Thursday, September 15th. This represents a $2.76 annualized dividend and a yield of 2.61%. Cincinnati Financial’s payout ratio is presently -766.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CINF shares. Bank of America started coverage on shares of Cincinnati Financial in a report on Tuesday, September 27th. They issued a “neutral” rating and a $92.00 target price on the stock. StockNews.com cut shares of Cincinnati Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 9th. TheStreet cut shares of Cincinnati Financial from a “b” rating to a “c+” rating in a report on Wednesday, July 27th. Finally, Raymond James started coverage on shares of Cincinnati Financial in a report on Friday, September 23rd. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.00.

Cincinnati Financial Company Profile

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Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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