Ashton Thomas Securities LLC Takes Position in Cincinnati Financial Corporation $CINF

Key Points

• Ashton Thomas Securities LLC has acquired a new stake in Cincinnati Financial Corporation, purchasing 2,282 shares valued at approximately $337,000.
• The insurance provider reported an earnings per share (EPS) of $1.97 for the last quarter, exceeding analyst estimates of $1.39.
• Cincinnati Financial announced a quarterly dividend of $0.87 per share, with an annualized yield of 2.3%, payable on October 15th.

Ashton Thomas Securities LLC purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,282 shares of the insurance provider's stock, valued at approximately $337,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management boosted its holdings in Cincinnati Financial by 77.6% in 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. acquired a new stake in shares of Cincinnati Financial in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new stake in shares of Cincinnati Financial in the first quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Cincinnati Financial in the first quarter valued at approximately $32,000. Finally, GoalVest Advisory LLC boosted its holdings in shares of Cincinnati Financial by 65.4% in the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 102 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF traded down $2.23 during mid-day trading on Friday, hitting $153.36. 333,269 shares of the company were exchanged, compared to its average volume of 672,475. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $150.53 and a 200-day simple moving average of $145.45. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $161.74. The firm has a market cap of $23.98 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 7.51 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.58. The firm 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 company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. On average, sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CINF shares. Roth Capital increased their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $159.40.

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.