Ascent Group LLC Has $2.86 Million Position in Cincinnati Financial Corporation $CINF

Ascent Group LLC reduced its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,231 shares of the insurance provider’s stock after selling 255 shares during the period. Ascent Group LLC’s holdings in Cincinnati Financial were worth $2,864,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Cincinnati Financial by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider’s stock worth $2,844,419,000 after acquiring an additional 87,773 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Cincinnati Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock worth $940,130,000 after acquiring an additional 358,018 shares during the period. Invesco Ltd. grew its holdings in Cincinnati Financial by 2.2% during the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock worth $273,062,000 after acquiring an additional 40,222 shares during the period. GQG Partners LLC acquired a new stake in shares of Cincinnati Financial in the 1st quarter valued at about $270,005,000. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Cincinnati Financial by 4.2% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider’s stock valued at $205,061,000 after buying an additional 55,487 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $163.29 on Friday. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $164.03. The company’s 50 day moving average price is $153.62 and its two-hundred day moving average price is $147.45. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $25.54 billion, a P/E ratio of 14.16, a P/E/G ratio of 7.99 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.39 by $0.58. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 EPS. On average, equities analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial’s payout ratio is 30.18%.

Wall Street Analysts Forecast Growth

CINF has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Saturday, September 27th. Roth Capital raised their target price 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, Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus target price of $159.40.

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.