Sagespring Wealth Partners LLC Purchases 750 Shares of Cincinnati Financial Corporation $CINF

Sagespring Wealth Partners LLC raised its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 51.0% during the second quarter, Holdings Channel reports. The fund owned 2,222 shares of the insurance provider’s stock after buying an additional 750 shares during the period. Sagespring Wealth Partners LLC’s holdings in Cincinnati Financial were worth $331,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial in the 2nd quarter worth $25,000. Spire Wealth Management grew its stake in shares of Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock valued at $26,000 after buying an additional 76 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cincinnati Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management bought a new stake in shares of Cincinnati Financial in the 1st quarter valued at about $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Cincinnati Financial during the 1st quarter valued at about $32,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Up 1.1%

NASDAQ CINF opened at $153.02 on Friday. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $166.90. The stock has a market capitalization of $23.93 billion, a PE ratio of 13.27, a PEG ratio of 7.09 and a beta of 0.72. 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 business’s 50-day moving average is $155.54 and its 200 day moving average is $148.34.

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, topping the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the business posted $1.29 EPS. The business’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s payout ratio is presently 30.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CINF shares. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Finally, Roth Capital increased 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.25.

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.