Arrowstreet Capital Limited Partnership Buys 66,005 Shares of Cincinnati Financial Corporation $CINF

Arrowstreet Capital Limited Partnership lifted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 37.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 242,604 shares of the insurance provider’s stock after purchasing an additional 66,005 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.16% of Cincinnati Financial worth $36,129,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bison Wealth LLC purchased a new position in shares of Cincinnati Financial in the fourth quarter valued at about $210,000. Atria Wealth Solutions Inc. grew its stake in shares of Cincinnati Financial by 30.9% in the first quarter. Atria Wealth Solutions Inc. now owns 1,997 shares of the insurance provider’s stock worth $295,000 after purchasing an additional 471 shares during the last quarter. Vanguard Group Inc. increased its holdings in Cincinnati Financial by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider’s stock valued at $2,844,419,000 after purchasing an additional 87,773 shares during the period. ASR Vermogensbeheer N.V. bought a new position in Cincinnati Financial during the 1st quarter valued at approximately $421,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Cincinnati Financial by 10.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 315,857 shares of the insurance provider’s stock valued at $46,658,000 after purchasing an additional 30,387 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Dirk J. Debbink acquired 1,000 shares of the stock in a transaction on Tuesday, October 28th. The stock was acquired at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the completion of the purchase, the director owned 58,482 shares of the company’s stock, valued at $9,005,058.36. This represents a 1.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Roth Capital reissued a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $171.67.

Cincinnati Financial Stock Down 0.4%

NASDAQ:CINF opened at $162.30 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s 50-day moving average price is $160.83 and its 200-day moving average price is $153.97. The company has a market capitalization of $25.32 billion, a PE ratio of 12.08, a P/E/G ratio of 4.27 and a beta of 0.69. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $169.86.

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

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be paid a $0.87 dividend. The ex-dividend date is Monday, December 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.1%. Cincinnati Financial’s dividend payout ratio is presently 25.89%.

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.