Advisors Capital Management LLC Invests $211,000 in Cincinnati Financial Corporation $CINF

Advisors Capital Management LLC acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,415 shares of the insurance provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also bought and sold shares of CINF. Quintet Private Bank Europe S.A. bought a new stake in shares of Cincinnati Financial in the second quarter valued at $25,000. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial in the 1st quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Cincinnati Financial during the first quarter valued at about $32,000. AlphaQuest LLC lifted its holdings in Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Cincinnati Financial by 51.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 96 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CINF. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Roth Capital restated a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $177.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $171.67.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $163.90 on Monday. The stock has a market cap of $25.57 billion, a P/E ratio of 12.19, a PEG ratio of 4.27 and a beta of 0.69. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $157.82 and its two-hundred day moving average price is $152.16. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $168.20.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.84. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. Cincinnati Financial’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share. As a group, equities analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio is currently 25.89%.

Insider Activity

In other news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the transaction, the director owned 58,482 shares of the company’s stock, valued at $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.83% of the company’s stock.

About Cincinnati Financial

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.