Pallas Capital Advisors LLC Increases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Pallas Capital Advisors LLC increased its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 22.3% during the third quarter, Holdings Channel reports. The institutional investor owned 6,381 shares of the insurance provider’s stock after buying an additional 1,162 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Cincinnati Financial were worth $882,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CINF. AQR Capital Management LLC increased its holdings in shares of Cincinnati Financial by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after acquiring an additional 277,550 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares in the last quarter. Natixis purchased a new stake in shares of Cincinnati Financial during the 1st quarter worth approximately $22,053,000. Bahl & Gaynor Inc. boosted its holdings in shares of Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after buying an additional 107,081 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Cincinnati Financial by 126.4% in the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock valued at $21,259,000 after buying an additional 100,487 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 1.0 %

CINF opened at $143.44 on Thursday. The business has a 50 day moving average price of $136.80 and a two-hundred day moving average price of $125.76. Cincinnati Financial Co. has a 52 week low of $98.65 and a 52 week high of $145.33. The company has a market cap of $22.46 billion, a PE ratio of 9.54, a P/E/G ratio of 2.62 and a beta of 0.66. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results 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). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. Cincinnati Financial’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 earnings per share. As a group, research analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.26%. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Analyst Ratings Changes

CINF has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday. Roth Mkm upped their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Bank of America increased their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

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.