Contravisory Investment Management Inc. Makes New $270,000 Investment in Cincinnati Financial Corporation $CINF

Contravisory Investment Management Inc. purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,814 shares of the insurance provider’s stock, valued at approximately $270,000.

Several other large investors also recently modified their holdings of CINF. GQG Partners LLC acquired a new stake in shares of Cincinnati Financial during the 1st quarter worth approximately $270,005,000. GAMMA Investing LLC grew its position in shares of Cincinnati Financial by 15,698.7% during the 1st quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider’s stock worth $120,540,000 after buying an additional 810,840 shares during the period. Raymond James Financial Inc. grew its position in shares of Cincinnati Financial by 558.8% during the 1st quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider’s stock worth $79,909,000 after buying an additional 458,841 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 358,018 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Cincinnati Financial during the 1st quarter worth approximately $47,070,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CINF. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Roth Capital lifted their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average price target of $159.40.

Cincinnati Financial Price Performance

CINF opened at $155.93 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $24.38 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 7.56 and a beta of 0.72. The firm’s fifty day moving average price is $151.80 and its two-hundred day moving average price is $146.33. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74.

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

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial’s payout ratio is currently 30.18%.

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.