Edgestream Partners L.P. Makes New Investment in Cincinnati Financial Co. (NASDAQ:CINF)

Edgestream Partners L.P. bought a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 28,348 shares of the insurance provider's stock, valued at approximately $3,859,000.

Several other institutional investors also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Cincinnati Financial during the third quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in Cincinnati Financial during the 3rd quarter worth about $27,000. Rothschild Investment LLC acquired a new stake in Cincinnati Financial in the 2nd quarter valued at about $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Cincinnati Financial in the 3rd quarter valued at about $29,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock worth $33,000 after buying an additional 80 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on CINF. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Bank of America lifted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Two investment 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 an average rating of "Moderate Buy" and a consensus price target of $138.57.

Cincinnati Financial Stock Down 0.2 %

Shares of NASDAQ CINF traded down $0.33 during mid-day trading on Friday, reaching $159.83. The company had a trading volume of 361,209 shares, compared to its average volume of 477,836. The firm has a 50 day simple moving average of $143.65 and a two-hundred day simple moving average of $131.05. Cincinnati Financial Co. has a 52-week low of $100.31 and a 52-week high of $161.74. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock has a market cap of $24.98 billion, a P/E ratio of 8.21, a PEG ratio of 3.05 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the previous year, the business posted $1.66 EPS. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. Sell-side analysts predict that Cincinnati Financial Co. will post 6.31 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial's dividend payout ratio is currently 16.65%.

About Cincinnati Financial

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.