Commonwealth Equity Services LLC Increases Stake in Cincinnati Financial Co. (CINF)

Commonwealth Equity Services LLC grew its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,372 shares of the insurance provider’s stock after buying an additional 1,060 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Cincinnati Financial were worth $2,196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clarus Wealth Advisors acquired a new position in Cincinnati Financial in the 4th quarter worth $38,000. Portfolio Solutions LLC acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $39,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $89,000. Quantamental Technologies LLC acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $100,000. Finally, First Mercantile Trust Co. raised its stake in shares of Cincinnati Financial by 47.1% in the 4th quarter. First Mercantile Trust Co. now owns 1,500 shares of the insurance provider’s stock valued at $116,000 after purchasing an additional 480 shares in the last quarter. 63.66% of the stock is owned by institutional investors.

Shares of NASDAQ:CINF opened at $85.04 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.11. Cincinnati Financial Co. has a fifty-two week low of $66.33 and a fifty-two week high of $87.46. The stock has a market cap of $13.96 billion, a P/E ratio of 25.39 and a beta of 0.68.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, February 6th. The insurance provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.14. Cincinnati Financial had a net margin of 5.31% and a return on equity of 6.86%. The business had revenue of $710.00 million during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The company’s revenue for the quarter was down 49.7% compared to the same quarter last year. On average, equities analysts expect that Cincinnati Financial Co. will post 3.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, March 20th will be given a $0.56 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $2.24 annualized dividend and a yield of 2.63%. Cincinnati Financial’s dividend payout ratio is 63.28%.

CINF has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Cincinnati Financial from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 9th. Buckingham Research initiated coverage on shares of Cincinnati Financial in a research note on Friday, December 14th. They issued a “neutral” rating and a $80.00 target price on the stock. Credit Suisse Group upgraded shares of Cincinnati Financial from an “underperform” rating to a “neutral” rating and upped their target price for the company from $75.00 to $90.00 in a research note on Wednesday, February 27th. Finally, Zacks Investment Research upgraded shares of Cincinnati Financial from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research note on Tuesday, February 12th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $89.00.

In other news, Director Dirk J. Debbink bought 351 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was purchased at an average price of $85.48 per share, for a total transaction of $30,003.48. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 7.07% of the stock is currently owned by corporate insiders.

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Cincinnati Financial Profile

Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

Further Reading: Risk Tolerance

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Co. (NASDAQ:CINF).

Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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