Bank of Montreal Can Purchases 97,484 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Bank of Montreal Can grew its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 75.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,622 shares of the insurance provider’s stock after purchasing an additional 97,484 shares during the quarter. Bank of Montreal Can’s holdings in Cincinnati Financial were worth $26,895,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CINF. Assetmark Inc. grew its position in shares of Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after buying an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in Cincinnati Financial during the 2nd quarter valued at about $29,000. Raleigh Capital Management Inc. bought a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $31,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Cincinnati Financial in the 1st quarter worth approximately $47,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Cincinnati Financial during the second quarter valued at approximately $49,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Up 0.5 %

NASDAQ:CINF opened at $135.64 on Friday. The company’s 50 day moving average is $131.47 and its two-hundred day moving average is $122.74. The company has a market cap of $21.24 billion, a PE ratio of 9.02, a P/E/G ratio of 2.65 and a beta of 0.66. Cincinnati Financial Co. has a twelve month low of $96.86 and a twelve month high of $139.34. 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 (NASDAQ:CINF) last released its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the firm earned $1.21 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Bank of America lowered their target price on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Roth Mkm upped their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, 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 report on Thursday, August 1st. Four investment 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.57.

About Cincinnati Financial

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.