DAVENPORT & Co LLC Grows Stock Holdings in Cincinnati Financial Corporation $CINF

DAVENPORT & Co LLC raised its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,292 shares of the insurance provider’s stock after buying an additional 235 shares during the period. DAVENPORT & Co LLC’s holdings in Cincinnati Financial were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Cincinnati Financial in the 1st quarter valued at approximately $337,000. FJ Capital Management LLC boosted its position in Cincinnati Financial by 97.5% in the 1st quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider’s stock valued at $4,327,000 after buying an additional 14,464 shares during the period. M&T Bank Corp boosted its position in Cincinnati Financial by 12.7% in the 1st quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider’s stock valued at $1,161,000 after buying an additional 887 shares during the period. CWA Asset Management Group LLC boosted its position in Cincinnati Financial by 4.1% in the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider’s stock valued at $352,000 after buying an additional 94 shares during the period. Finally, OLD Republic International Corp boosted its position in Cincinnati Financial by 1.0% in the 1st quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider’s stock valued at $58,955,000 after buying an additional 4,000 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Down 1.7%

Cincinnati Financial stock opened at $158.97 on Friday. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $166.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $24.86 billion, a PE ratio of 13.79, a P/E/G ratio of 7.77 and a beta of 0.72. The stock’s fifty day moving average is $155.11 and its two-hundred day moving average is $148.06.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the firm earned $1.29 earnings per share. Cincinnati Financial’s quarterly revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 30.18%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CINF. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday. Roth Capital raised their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.25.

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.