6,404 Shares in Cincinnati Financial Corporation $CINF Bought by Novem Group

Key Points

• Novem Group acquired a new stake of 6,404 shares (~$1.05M) in Cincinnati Financial in Q4, while other institutions (Raymond James, Korea Investment, Goldman Sachs, Qube, Danske Bank) materially increased positions—institutional ownership stands at 65.24%.
• Cincinnati Financial beat quarterly expectations with EPS $3.37 vs. $2.86 and revenue of $3.09B (up 21.8% year-over-year), and analysts project roughly 8.39 EPS for the current year.
• The company raised its quarterly dividend to $0.94 ($3.76 annual, ~2.3% yield) and the stock trades with a market cap of $25.92B, a P/E of 10.97, and a MarketBeat consensus target of $174.75 ("Moderate Buy").

Novem Group acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,404 shares of the insurance provider's stock, valued at approximately $1,046,000.

Several other large investors have also recently made changes to their positions in CINF. Raymond James Financial Inc. boosted its holdings in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock worth $119,682,000 after buying an additional 262,715 shares during the last quarter. Korea Investment CORP increased its holdings in Cincinnati Financial by 210.0% during the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider's stock worth $46,548,000 after buying an additional 199,437 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock worth $83,889,000 after buying an additional 173,343 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Cincinnati Financial by 3,892.6% in the third quarter. Qube Research & Technologies Ltd now owns 145,890 shares of the insurance provider's stock worth $23,065,000 after acquiring an additional 142,236 shares during the period. Finally, Danske Bank A S bought a new stake in Cincinnati Financial in the third quarter worth about $22,243,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $166.46 on Wednesday. The business's fifty day moving average is $162.48 and its 200 day moving average is $162.39. The firm has a market cap of $25.92 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 4.38 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Corporation has a 52-week low of $129.55 and a 52-week high of $174.27.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, topping the consensus estimate of $2.86 by $0.51. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $2.92 billion. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The firm's revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.14 EPS. Research analysts predict that Cincinnati Financial Corporation will post 8.39 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.87. The ex-dividend date was Tuesday, March 24th. Cincinnati Financial's dividend payout ratio (DPR) is 24.79%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CINF. Weiss Ratings downgraded shares of Cincinnati Financial from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, March 24th. Wall Street Zen cut shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods reduced their price objective on Cincinnati Financial from $191.00 to $190.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Finally, Bank of America decreased their target price on Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $174.75.

About Cincinnati Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.