Abich Financial Wealth Management LLC Boosts Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Abich Financial Wealth Management LLC raised its position in Cincinnati Financial Co. (NASDAQ:CINF) by 2,027.7% during the second quarter, HoldingsChannel.com reports. The firm owned 1,000 shares of the insurance provider’s stock after buying an additional 953 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Cincinnati Financial were worth $118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Cincinnati Financial by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,009 shares of the insurance provider’s stock valued at $3,544,000 after acquiring an additional 11,276 shares in the last quarter. Bank of Montreal Can raised its position in Cincinnati Financial by 75.5% in the second quarter. Bank of Montreal Can now owns 226,622 shares of the insurance provider’s stock valued at $26,895,000 after purchasing an additional 97,484 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Cincinnati Financial by 7.2% during the second quarter. Public Sector Pension Investment Board now owns 26,516 shares of the insurance provider’s stock worth $3,132,000 after purchasing an additional 1,786 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Cincinnati Financial by 21.6% in the second quarter. Ensign Peak Advisors Inc now owns 68,662 shares of the insurance provider’s stock worth $8,109,000 after buying an additional 12,190 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Cincinnati Financial by 4.9% in the second quarter. Sei Investments Co. now owns 39,907 shares of the insurance provider’s stock valued at $4,713,000 after buying an additional 1,865 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Down 0.0 %

Shares of NASDAQ:CINF opened at $136.19 on Wednesday. The firm has a market cap of $21.28 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66. The company has a fifty day simple moving average of $131.13 and a 200 day simple moving average of $122.57. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 12-month low of $96.86 and a 12-month high of $139.34.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. The company’s revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CINF shares. Bank of America reduced their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research 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. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $126.00 to $135.00 in a report on Friday, June 28th. Finally, Roth Mkm boosted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.57.

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.