MBB Public Markets I LLC Purchases New Stake in Cincinnati Financial Co. (NASDAQ:CINF)

MBB Public Markets I LLC acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,444 shares of the insurance provider’s stock, valued at approximately $1,352,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Assetmark Inc. grew 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 last quarter. Rothschild Investment LLC acquired a new stake in Cincinnati Financial in the second quarter worth $29,000. Raleigh Capital Management Inc. bought a new stake in Cincinnati Financial in the fourth quarter valued at $31,000. Future Financial Wealth Managment LLC acquired a new position in shares of Cincinnati Financial during the first quarter valued at $47,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Cincinnati Financial during the second quarter worth about $49,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 0.5 %

Shares of CINF stock opened at $135.64 on Monday. Cincinnati Financial Co. has a 1 year low of $96.86 and a 1 year 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 business’s fifty day moving average is $131.77 and its 200-day moving average is $122.93. The stock has a market cap of $21.24 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66.

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, topping analysts’ consensus estimates 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 analyst estimates of $2.21 billion. During the same period in the previous year, the company earned $1.21 earnings per share. Cincinnati Financial’s revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm 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 yield of 2.39%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is 21.56%.

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent research reports. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $126.00 to $135.00 in a report on Friday, June 28th. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Bank of America cut their target price on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.