Bellwether Advisors LLC Invests $4.08 Million in Cincinnati Financial Corporation $CINF

Key Points

• Bellwether Advisors LLC initiated a new position in Cincinnati Financial, buying 25,956 shares worth about $4.08 million in the first quarter.
• Institutional ownership remains high at 65.24%, with several other big investors also adding to their stakes in the insurance company.
• Cincinnati Financial reported strong quarterly results, beating earnings and revenue estimates, while also paying a $0.94 quarterly dividend that equates to a 2.1% yield.

Bellwether Advisors LLC acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,956 shares of the insurance provider's stock, valued at approximately $4,084,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Cincinnati Financial in the 4th quarter valued at approximately $270,892,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider's stock worth $98,161,000 after purchasing an additional 396,086 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider's stock worth $215,562,000 after purchasing an additional 367,224 shares during the last quarter. Raymond James Financial Inc. increased its holdings in Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock valued at $119,682,000 after purchasing an additional 262,715 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Cincinnati Financial in the fourth quarter valued at $32,692,000. Institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CINF shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital raised their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Weiss Ratings raised Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, June 26th. Finally, Piper Sandler upped their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $192.40.

Cincinnati Financial Price Performance

CINF stock opened at $180.51 on Wednesday. The firm has a market cap of $27.92 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 3.69 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12-month low of $143.87 and a 12-month high of $194.81. The company's fifty day simple moving average is $172.64 and its 200 day simple moving average is $166.21.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.61 billion. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that Cincinnati Financial Corporation will post 8.76 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.1%. Cincinnati Financial's dividend payout ratio is presently 21.50%.

Cincinnati Financial Company Profile

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.

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Corporation (NASDAQ:CINF - Free Report).

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.