Axecap Investments LLC Purchases New Shares in Cincinnati Financial Co. (NASDAQ:CINF)

Axecap Investments LLC bought a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,060 shares of the insurance provider's stock, valued at approximately $689,000.

Several other hedge funds and other institutional investors have also modified their holdings of CINF. UMB Bank n.a. raised its position in shares of Cincinnati Financial by 7.4% in the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider's stock valued at $155,000 after buying an additional 79 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Cincinnati Financial by 49.4% in the 3rd 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. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cincinnati Financial by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider's stock valued at $761,000 after purchasing an additional 80 shares during the last quarter. Hartford Investment Management Co. boosted its stake in Cincinnati Financial by 0.8% during the third quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider's stock worth $1,384,000 after acquiring an additional 80 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in Cincinnati Financial by 4.3% during the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider's stock worth $271,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

CINF has been the topic of several research reports. Roth Mkm upped their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Citigroup upgraded shares of Cincinnati Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $126.00 to $135.00 in a report on Friday, June 28th. Bank of America raised their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average target price of $136.29.

Cincinnati Financial Stock Performance

NASDAQ:CINF traded down $0.64 on Thursday, reaching $138.24. 616,556 shares of the company's stock were exchanged, compared to its average volume of 707,822. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 2.62 and a beta of 0.66. Cincinnati Financial Co. has a 52 week low of $96.86 and a 52 week high of $142.25. The stock has a fifty day simple moving average of $135.69 and a 200-day simple moving average of $125.00.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the business earned $1.21 earnings per share. Cincinnati Financial's revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.34%. Cincinnati Financial's dividend payout ratio (DPR) is currently 21.56%.

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.