Quantinno Capital Management LP increased its position in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 48.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,373 shares of the insurance provider’s stock after purchasing an additional 55,567 shares during the quarter. Quantinno Capital Management LP’s holdings in Cincinnati Financial were worth $26,651,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $25,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial during the fourth quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new position in Cincinnati Financial in the first quarter valued at approximately $34,000. DV Equities LLC bought a new position in Cincinnati Financial in the fourth quarter valued at approximately $36,000. Finally, Legacy Wealth Managment LLC ID boosted its stake in Cincinnati Financial by 78.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 108 shares during the last quarter. 65.24% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler raised their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Finally, Roth Capital upped their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $197.60.
Cincinnati Financial Stock Up 1.7%
Cincinnati Financial stock opened at $177.68 on Friday. The firm has a market capitalization of $27.27 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 3.65 and a beta of 0.54. The company’s 50 day simple moving average is $174.77 and its 200 day simple moving average is $167.16. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.28. Cincinnati Financial Corporation has a fifty-two week low of $143.87 and a fifty-two week high of $194.81.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the company posted $1.97 EPS. As a group, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.59 EPS for the current year.
About Cincinnati Financial
Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.
The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.
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