Quest Partners LLC Invests $151,000 in Cincinnati Financial Co. (NASDAQ:CINF)

Quest Partners LLC purchased a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the third quarter, Holdings Channel.com reports. The firm purchased 1,111 shares of the insurance provider’s stock, valued at approximately $151,000.

Several other hedge funds have also made changes to their positions in the company. Vest Financial LLC lifted its position in shares of Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after purchasing an additional 46,530 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Cincinnati Financial by 91.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock worth $14,016,000 after buying an additional 56,686 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Cincinnati Financial by 30.5% during the 2nd quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock valued at $4,976,000 after acquiring an additional 9,854 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cincinnati Financial by 10.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock worth $15,923,000 after purchasing an additional 11,282 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Cincinnati Financial by 6.2% in the second quarter. National Bank of Canada FI now owns 143,127 shares of the insurance provider’s stock worth $17,059,000 after purchasing an additional 8,353 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CINF has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Piper Sandler raised their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Stock Performance

CINF opened at $160.16 on Friday. Cincinnati Financial Co. has a 1 year low of $99.92 and a 1 year high of $161.74. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $143.14 and its 200-day simple moving average is $130.57. The stock has a market cap of $25.04 billion, a PE ratio of 8.23, a P/E/G ratio of 3.04 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business posted $1.66 EPS. The company’s revenue was up 21.5% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

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.