Thoroughbred Financial Services LLC Buys New Shares in Cincinnati Financial Co. (NASDAQ:CINF)

Thoroughbred Financial Services LLC acquired a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,828 shares of the insurance provider’s stock, valued at approximately $215,000.

Several other institutional investors have also recently made changes to their positions in CINF. Assetmark Inc. raised its holdings in shares of Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC acquired a new position in shares of Cincinnati Financial during the second quarter valued at about $29,000. Raleigh Capital Management Inc. acquired a new position in shares of Cincinnati Financial during the fourth quarter valued at about $31,000. Future Financial Wealth Managment LLC acquired a new position in shares of Cincinnati Financial during the first quarter valued at about $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Cincinnati Financial during the second quarter valued at about $49,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CINF shares. 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 boosted their target price 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. 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 report on Friday, July 26th. Finally, Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Trading Down 0.7 %

Shares of CINF stock opened at $136.17 on Wednesday. Cincinnati Financial Co. has a 52-week low of $96.86 and a 52-week high of $139.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The company has a 50-day simple moving average of $129.78 and a two-hundred day simple moving average of $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 issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

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.