Townsquare Capital LLC Acquires 2,890 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Townsquare Capital LLC increased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 159.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,701 shares of the insurance provider’s stock after purchasing an additional 2,890 shares during the period. Townsquare Capital LLC’s holdings in Cincinnati Financial were worth $640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in Cincinnati Financial by 2.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock valued at $460,000 after buying an additional 68 shares in the last quarter. Wealth Dimensions Group Ltd. raised its stake in Cincinnati Financial by 0.9% during the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock valued at $1,098,000 after purchasing an additional 75 shares in the last quarter. UMB Bank n.a. lifted its position in Cincinnati Financial by 7.4% during the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after purchasing an additional 79 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after buying an additional 80 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cincinnati Financial by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock valued at $761,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $156.49 on Wednesday. The stock’s fifty day moving average is $144.48 and its two-hundred day moving average is $131.58. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $24.46 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 3.01 and a beta of 0.69. Cincinnati Financial Co. has a 52 week low of $100.31 and a 52 week high of $161.74.

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

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s payout ratio is 16.65%.

Analyst Upgrades and Downgrades

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

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.