Croban Buys New Stake in Cincinnati Financial Corporation (NASDAQ:CINF)

Croban purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,898 shares of the insurance provider’s stock, valued at approximately $1,019,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park National Corp OH increased its position in shares of Cincinnati Financial by 0.6% during the first quarter. Park National Corp OH now owns 12,686 shares of the insurance provider’s stock worth $1,874,000 after acquiring an additional 72 shares during the period. Spire Wealth Management lifted its stake in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 76 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Cincinnati Financial by 0.5% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider’s stock valued at $2,871,000 after purchasing an additional 91 shares during the last quarter. CWA Asset Management Group LLC lifted its position in shares of Cincinnati Financial by 4.1% during the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider’s stock worth $352,000 after purchasing an additional 94 shares during the last quarter. Finally, Brass Tax Wealth Management Inc. raised its stake in Cincinnati Financial by 5.2% in the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider’s stock valued at $279,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 0.8%

Shares of Cincinnati Financial stock opened at $147.85 on Friday. Cincinnati Financial Corporation has a one year low of $115.43 and a one year high of $161.75. The company has a market cap of $23.11 billion, a P/E ratio of 16.12, a PEG ratio of 9.74 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day moving average of $147.55 and a two-hundred day moving average of $142.19.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.37. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the company posted $1.72 earnings per share. Cincinnati Financial’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 annualized dividend and a yield of 2.35%. Cincinnati Financial’s dividend payout ratio is presently 37.95%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $150.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday. Wall Street Zen raised Cincinnati Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $155.25.

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.