Point72 Asset Management L.P. Buys 19,630 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Point72 Asset Management L.P. grew its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 20.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,630 shares of the insurance provider’s stock after acquiring an additional 19,630 shares during the period. Point72 Asset Management L.P. owned 0.07% of Cincinnati Financial worth $16,329,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cincinnati Financial in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd raised its holdings in shares of Cincinnati Financial by 121.8% in the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock worth $28,000 after buying an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Cincinnati Financial by 157.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 205 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in shares of Cincinnati Financial in the fourth quarter worth $50,000. Finally, Kentucky Trust Co acquired a new stake in shares of Cincinnati Financial in the fourth quarter worth $51,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Price Performance

Shares of CINF opened at $150.86 on Friday. Cincinnati Financial Co. has a 1-year low of $111.92 and a 1-year high of $161.75. The stock has a market cap of $23.58 billion, a PE ratio of 10.39, a P/E/G ratio of 8.30 and a beta of 0.73. The firm has a 50-day simple moving average of $140.44 and a two-hundred day simple moving average of $143.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.37. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 earnings per share. As a group, analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 37.95%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Roth Mkm raised their price target on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, StockNews.com raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.40.

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.