Aberdeen Group plc Raises Stock Holdings in Cincinnati Financial Corporation $CINF

Key Points

• Aberdeen Group plc has significantly increased its stake in Cincinnati Financial Corporation by 78.9%, acquiring a total of 99,118 shares valued at approximately $14.55 million.
• Cincinnati Financial reported earnings of $1.97 per share for the last quarter, surpassing estimates and marking a 15.5% increase in revenue compared to the previous year.
• Analysts have raised their price targets for Cincinnati Financial, with the consensus rating now set at "Moderate Buy" and an average price target of $159.40.

Aberdeen Group plc raised its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 78.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 99,118 shares of the insurance provider's stock after purchasing an additional 43,719 shares during the quarter. Aberdeen Group plc owned 0.06% of Cincinnati Financial worth $14,548,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. United Capital Financial Advisors LLC raised its holdings in Cincinnati Financial by 10.5% during the 4th quarter. United Capital Financial Advisors LLC now owns 2,671 shares of the insurance provider's stock valued at $384,000 after buying an additional 254 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Cincinnati Financial by 3.4% in the 4th quarter. NewEdge Advisors LLC now owns 20,424 shares of the insurance provider's stock worth $2,935,000 after acquiring an additional 681 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cincinnati Financial by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,415,742 shares of the insurance provider's stock worth $203,438,000 after acquiring an additional 34,810 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Cincinnati Financial by 72.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,135 shares of the insurance provider's stock worth $1,456,000 after acquiring an additional 4,261 shares during the last quarter. Finally, Ossiam grew its holdings in Cincinnati Financial by 26.0% in the 4th quarter. Ossiam now owns 8,140 shares of the insurance provider's stock worth $1,170,000 after acquiring an additional 1,680 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

CINF has been the topic of a number of recent analyst reports. Roth Capital raised their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Trading Up 1.6%

Shares of Cincinnati Financial stock traded up $2.44 during midday trading on Friday, reaching $155.40. 458,350 shares of the company's stock traded hands, compared to its average volume of 610,878. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $24.30 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 7.61 and a beta of 0.70. The stock has a 50 day moving average of $148.96 and a 200-day moving average of $144.38. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. As a group, equities analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company 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 $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.2%. Cincinnati Financial's payout ratio is 30.18%.

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.