OLD National Bancorp IN Has $239,000 Position in Cincinnati Financial Corporation $CINF

OLD National Bancorp IN boosted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 14.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,605 shares of the insurance provider’s stock after purchasing an additional 208 shares during the period. OLD National Bancorp IN’s holdings in Cincinnati Financial were worth $239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Cincinnati Financial by 0.5% during the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider’s stock worth $2,844,419,000 after purchasing an additional 87,773 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cincinnati Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock worth $940,130,000 after purchasing an additional 358,018 shares during the last quarter. Invesco Ltd. lifted its stake in Cincinnati Financial by 2.2% during the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock worth $273,062,000 after purchasing an additional 40,222 shares during the last quarter. GQG Partners LLC bought a new stake in Cincinnati Financial during the first quarter worth $270,005,000. Finally, Johnson Investment Counsel Inc. lifted its stake in Cincinnati Financial by 4.2% during the first quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider’s stock worth $205,061,000 after purchasing an additional 55,487 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Down 0.1%

Shares of NASDAQ:CINF opened at $165.55 on Thursday. The firm has a market cap of $25.89 billion, a P/E ratio of 14.36, a P/E/G ratio of 8.10 and a beta of 0.72. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $166.90. The business has a fifty day simple moving average of $154.57 and a 200 day simple moving average of $147.85.

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

Cincinnati Financial Announces Dividend

The firm also recently declared 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 2.1%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 30.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CINF shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Finally, Roth Capital increased their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.