SCS Capital Management LLC Purchases New Position in Cincinnati Financial Corporation $CINF

SCS Capital Management LLC purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 74,936 shares of the insurance provider’s stock, valued at approximately $11,071,000.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Cincinnati Financial in the 1st quarter valued at about $337,000. FJ Capital Management LLC lifted its position in shares of Cincinnati Financial by 97.5% during the 1st quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider’s stock worth $4,327,000 after buying an additional 14,464 shares in the last quarter. M&T Bank Corp lifted its position in shares of Cincinnati Financial by 12.7% during the 1st quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider’s stock worth $1,161,000 after buying an additional 887 shares in 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 buying an additional 94 shares in the last quarter. Finally, OLD Republic International Corp lifted its position in shares of Cincinnati Financial by 1.0% during the 1st quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider’s stock worth $58,955,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 0.1%

Cincinnati Financial stock opened at $153.46 on Tuesday. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $161.74. The firm has a market capitalization of $24.00 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 7.51 and a beta of 0.72. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $150.62 and a 200 day simple moving average of $145.71.

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

Cincinnati Financial Announces Dividend

The company 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 $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 30.18%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Roth Capital raised their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $159.40.

Cincinnati Financial Company Profile

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.