QRG Capital Management Inc. bought a new position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,236 shares of the insurance provider's stock, valued at approximately $2,210,000.
A number of other institutional investors and hedge funds also recently modified their holdings of CINF. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter worth approximately $25,000. Rothschild Investment LLC bought a new stake in shares of Cincinnati Financial in the second quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new stake in shares of Cincinnati Financial in the third quarter valued at $29,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock valued at $33,000 after buying an additional 80 shares during the last quarter. Finally, USA Financial Formulas bought a new position in shares of Cincinnati Financial during the 3rd quarter worth $33,000. 65.24% of the stock is owned by hedge funds and other institutional investors.
Cincinnati Financial Price Performance
Shares of CINF traded up $1.57 during trading hours on Friday, reaching $148.69. 412,717 shares of the company's stock traded hands, compared to its average volume of 705,142. Cincinnati Financial Co. has a 12 month low of $98.65 and a 12 month high of $150.96. 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 $23.24 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 2.62 and a beta of 0.65. The firm's 50 day simple moving average is $137.68 and its 200-day simple moving average is $126.62.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results 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). The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Equities analysts expect that Cincinnati Financial Co. will post 6.35 EPS for the current year.
Cincinnati Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.18%. Cincinnati Financial's payout ratio is 16.65%.
Wall Street Analyst Weigh In
Several research firms have commented on CINF. Piper Sandler upped their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, Bank of America raised their price target on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus target price of $138.57.
Read Our Latest Analysis on CINF
Cincinnati Financial Profile
(
Free Report)
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.
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