DekaBank Deutsche Girozentrale Purchases 210 Shares of Cincinnati Financial Corporation $CINF

DekaBank Deutsche Girozentrale lifted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,728 shares of the insurance provider’s stock after purchasing an additional 210 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Cincinnati Financial were worth $3,772,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Stanley Laman Group Ltd. acquired a new stake in shares of Cincinnati Financial during the 2nd quarter worth $202,000. Chevy Chase Trust Holdings LLC grew its holdings in shares of Cincinnati Financial by 0.7% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 82,613 shares of the insurance provider’s stock worth $12,303,000 after purchasing an additional 588 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Cincinnati Financial by 1.2% during the 2nd quarter. Nordea Investment Management AB now owns 12,483 shares of the insurance provider’s stock worth $1,830,000 after purchasing an additional 144 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Cincinnati Financial during the 2nd quarter worth $824,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Cincinnati Financial by 1.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 136,878 shares of the insurance provider’s stock worth $20,384,000 after purchasing an additional 2,236 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Shares of CINF opened at $156.67 on Friday. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $166.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 7.01 and a beta of 0.72. The business has a 50-day moving average of $155.91 and a 200-day moving average of $149.19.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.58. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. As a group, equities research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, September 22nd. Cincinnati Financial’s payout ratio is presently 30.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Roth Capital raised their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.25.

Cincinnati Financial Profile

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.