Next Capital Management LLC lowered its position in Cincinnati Financial Co. (NASDAQ:CINF) by 50.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 619 shares of the insurance provider’s stock after selling 620 shares during the period. Next Capital Management LLC’s holdings in Cincinnati Financial were worth $64,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Kavar Capital Partners LLC acquired a new stake in Cincinnati Financial in the second quarter valued at about $26,000. Hanson & Doremus Investment Management purchased a new position in Cincinnati Financial in the second quarter valued at about $40,000. Gradient Investments LLC purchased a new position in Cincinnati Financial in the second quarter valued at about $46,000. Meridian Wealth Management LLC purchased a new position in Cincinnati Financial in the first quarter valued at about $48,000. Finally, Parallel Advisors LLC increased its holdings in Cincinnati Financial by 30.5% in the first quarter. Parallel Advisors LLC now owns 758 shares of the insurance provider’s stock valued at $65,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.
Cincinnati Financial stock traded up $1.08 during mid-day trading on Friday, reaching $109.66. The company had a trading volume of 14,550 shares, compared to its average volume of 731,178. Cincinnati Financial Co. has a 1 year low of $71.01 and a 1 year high of $110.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $17.74 billion, a P/E ratio of 32.79 and a beta of 0.65. The stock’s 50-day simple moving average is $107.02 and its 200-day simple moving average is $95.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 18th will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, September 17th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.04%. Cincinnati Financial’s dividend payout ratio (DPR) is 66.87%.
A number of research analysts have issued reports on CINF shares. MKM Partners reaffirmed a “buy” rating and issued a $120.00 target price (up from $100.00) on shares of Cincinnati Financial in a report on Friday, May 24th. BidaskClub raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada increased their target price on shares of Cincinnati Financial to $105.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Finally, Credit Suisse Group raised shares of Cincinnati Financial from a “neutral” rating to an “outperform” rating and increased their target price for the company from $90.00 to $110.00 in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $102.40.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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