Cincinnati Financial Co. (NASDAQ:CINF) Shares Bought by Vest Financial LLC

Vest Financial LLC grew its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 10.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 418,066 shares of the insurance provider’s stock after purchasing an additional 39,349 shares during the period. Cincinnati Financial comprises 1.1% of Vest Financial LLC’s investment portfolio, making the stock its 14th biggest position. Vest Financial LLC’s holdings in Cincinnati Financial were worth $56,907,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its holdings in Cincinnati Financial by 4.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock valued at $23,367,000 after buying an additional 7,709 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Cincinnati Financial by 40.6% in the 1st quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock worth $20,904,000 after purchasing an additional 48,597 shares during the period. SG Americas Securities LLC boosted its position in Cincinnati Financial by 77.3% during the first quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock worth $5,326,000 after purchasing an additional 18,704 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Cincinnati Financial during the first quarter worth approximately $7,054,000. Finally, Assenagon Asset Management S.A. grew its holdings in Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock valued at $14,016,000 after purchasing an additional 56,686 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF traded up $0.10 during midday trading on Friday, hitting $141.40. The company’s stock had a trading volume of 625,616 shares, compared to its average volume of 712,578. The company has a market cap of $22.14 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. Cincinnati Financial Co. has a 12-month low of $96.86 and a 12-month high of $141.83. The business’s 50 day simple moving average is $135.05 and its 200 day simple moving average is $124.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. On average, analysts forecast that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.29%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 21.56%.

Analyst Ratings Changes

CINF has been the topic of a number of recent analyst reports. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $126.00 to $135.00 in a research report on Friday, June 28th. Bank of America increased their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Roth Mkm boosted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.29.

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.