GQG Partners LLC Takes $216.68 Million Position in Cincinnati Financial Corporation $CINF

GQG Partners LLC bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF) during the 2nd quarter, HoldingsChannel reports. The fund bought 1,170,338 shares of the insurance provider’s stock, valued at approximately $216,679,000.

Other institutional investors have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. purchased a new position in shares of Cincinnati Financial in the second quarter valued at about $27,000. Covestor Ltd grew its stake in shares of Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 83 shares during the last quarter. Motiv8 Investments LLC purchased a new position in Cincinnati Financial during the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC bought a new position in Cincinnati Financial during the 1st quarter valued at approximately $34,000. Finally, DV Equities LLC purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 0.1%

Shares of NASDAQ:CINF opened at $168.29 on Friday. The stock has a market capitalization of $25.83 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 3.52 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50-day simple moving average is $177.96 and its two-hundred day simple moving average is $168.54. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the previous year, the company earned $1.97 EPS. Analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CINF shares. Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler increased their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Finally, Roth Capital upped their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.40.

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.