Brown Brothers Harriman & Co. Acquires 2,825 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Brown Brothers Harriman & Co. lifted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 582.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,310 shares of the insurance provider’s stock after buying an additional 2,825 shares during the period. Brown Brothers Harriman & Co.’s holdings in Cincinnati Financial were worth $391,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CINF. Envestnet Asset Management Inc. grew its stake in shares of Cincinnati Financial by 24.5% in the second quarter. Envestnet Asset Management Inc. now owns 131,976 shares of the insurance provider’s stock worth $15,586,000 after acquiring an additional 25,937 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in Cincinnati Financial during the 2nd quarter valued at $215,000. SYM FINANCIAL Corp bought a new position in shares of Cincinnati Financial during the 2nd quarter valued at $274,000. RS Crum Inc. purchased a new position in shares of Cincinnati Financial in the 2nd quarter worth $438,000. Finally, Federated Hermes Inc. bought a new stake in shares of Cincinnati Financial in the second quarter worth $89,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Down 0.7 %

Shares of CINF stock opened at $136.17 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a one year low of $96.86 and a one year high of $139.34. The company’s fifty day moving average price is $129.78 and its 200-day moving average price is $121.84. The company has a market capitalization of $21.32 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 2.60 and a beta of 0.66.

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

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a $0.81 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.38%. Cincinnati Financial’s payout ratio is 21.56%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CINF. Roth Mkm increased their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America dropped their price objective on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.57.

Cincinnati Financial 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.