Board of the Pension Protection Fund Invests $1.45 Million in Cincinnati Financial Corporation $CINF

Key Points

• The Board of the Pension Protection Fund invested approximately $1.45 million in Cincinnati Financial Corporation, acquiring 9,700 shares, making it the fund's 21st largest holding.
• Cincinnati Financial reported earnings of $1.97 per share for the quarter, surpassing expectations, and announced a quarterly dividend of $0.87 to be paid on October 15th.
• Analysts have a positive outlook on the stock, with several firms raising their price targets and a consensus rating of "Moderate Buy."

Board of the Pension Protection Fund bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,700 shares of the insurance provider's stock, valued at approximately $1,445,000. Cincinnati Financial accounts for about 1.6% of Board of the Pension Protection Fund's holdings, making the stock its 21st biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Cincinnati Financial in the 1st quarter worth about $337,000. FJ Capital Management LLC grew its position in shares of Cincinnati Financial by 97.5% in the 1st quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider's stock worth $4,327,000 after buying an additional 14,464 shares during the period. M&T Bank Corp grew its position in shares of Cincinnati Financial by 12.7% in the 1st quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock worth $1,161,000 after buying an additional 887 shares during the period. CWA Asset Management Group LLC grew its position in shares of Cincinnati Financial by 4.1% in the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock worth $352,000 after buying an additional 94 shares during the period. Finally, OLD Republic International Corp grew its position in shares of Cincinnati Financial by 1.0% in the 1st quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock worth $58,955,000 after buying an additional 4,000 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

CINF opened at $158.97 on Friday. 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 stock has a market capitalization of $24.86 billion, a P/E ratio of 13.79, a P/E/G ratio of 7.77 and a beta of 0.72. The company's 50-day simple moving average is $155.11 and its two-hundred day simple moving average is $148.06. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $166.90.

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

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is 30.18%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CINF shares. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Cincinnati Financial in a research note on Wednesday. Finally, Roth Capital upped their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial has an average rating of "Moderate Buy" and an average price target of $157.25.

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.

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