Cincinnati Financial Corporation $CINF Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 26.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,221 shares of the insurance provider’s stock after purchasing an additional 3,208 shares during the period. QRG Capital Management Inc.’s holdings in Cincinnati Financial were worth $2,395,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Lodestone Wealth Management LLC acquired a new position in Cincinnati Financial during the fourth quarter worth about $25,000. Motiv8 Investments LLC purchased a new position in Cincinnati Financial in the 4th quarter worth approximately $29,000. DV Equities LLC purchased a new position in Cincinnati Financial in the 4th quarter worth approximately $36,000. Legacy Wealth Managment LLC ID boosted its holdings in shares of Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 108 shares during the last quarter. Finally, SHP Wealth Management purchased a new stake in shares of Cincinnati Financial in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 2.6%

Shares of CINF stock traded up $4.90 during trading on Tuesday, reaching $194.49. The company’s stock had a trading volume of 58,053 shares, compared to its average volume of 758,676. Cincinnati Financial Corporation has a 1-year low of $143.87 and a 1-year high of $194.81. The stock’s 50-day moving average price is $168.93 and its 200 day moving average price is $165.13. The company has a market capitalization of $30.09 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 4.15 and a beta of 0.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.24) EPS. On average, research analysts anticipate that Cincinnati Financial Corporation will post 8.66 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is presently 21.50%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CINF shares. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Bank of America reduced their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Roth Capital upped their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Piper Sandler increased their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $183.25.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.