Allianz Asset Management GmbH Purchases 2,236 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Allianz Asset Management GmbH increased its stake in Cincinnati Financial Corporation by 1.7%, purchasing an additional 2,236 shares, bringing its total to 136,878 shares valued at approximately $20.38 million.
• Several hedge funds, including Quintet Private Bank Europe S.A. and Spire Wealth Management, have recently established or expanded their positions in Cincinnati Financial, which is now owned 65.24% by institutional investors.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with a target price ranging from $157.25 to $175.00 after recent upgrades from various equity research firms.

Allianz Asset Management GmbH lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,878 shares of the insurance provider's stock after buying an additional 2,236 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.09% of Cincinnati Financial worth $20,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CINF. Quintet Private Bank Europe S.A. bought a new position in shares of Cincinnati Financial during the 2nd quarter worth $25,000. Spire Wealth Management boosted its position in Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 76 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial during the first quarter valued at about $26,000. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial during the first quarter valued at about $30,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in Cincinnati Financial during the first quarter valued at about $32,000. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Roth Capital raised their price objective on 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 objective on 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $157.25.

Cincinnati Financial Trading Up 1.1%

Cincinnati Financial stock opened at $153.02 on Monday. The stock has a 50-day moving average of $155.54 and a two-hundred day moving average of $148.37. 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 one year low of $123.01 and a one year high of $166.90. The stock has a market cap of $23.93 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 7.16 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly 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. 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 during the quarter, compared to analysts' expectations of $2.80 billion. During the same period last year, the business posted $1.29 earnings per share. The firm's revenue was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is presently 30.18%.

Cincinnati Financial 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.

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