Bridgewater Advisors Inc. Takes Position in Cincinnati Financial Corporation (NASDAQ:CINF)

Bridgewater Advisors Inc. acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,486 shares of the insurance provider's stock, valued at approximately $348,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management lifted its holdings in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after buying an additional 76 shares during the period. Alpine Bank Wealth Management acquired a new position in Cincinnati Financial during the 1st quarter worth about $30,000. GoalVest Advisory LLC lifted its holdings in Cincinnati Financial by 65.4% during the 1st quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after buying an additional 102 shares during the period. Whipplewood Advisors LLC lifted its holdings in Cincinnati Financial by 333.3% during the 1st quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock worth $38,000 after buying an additional 200 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its holdings in Cincinnati Financial by 5,000.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock worth $38,000 after buying an additional 250 shares during the period. Institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CINF. Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $150.00 to $167.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $155.25.

Cincinnati Financial Stock Up 1.1%

CINF traded up $1.70 during midday trading on Friday, reaching $150.73. 699,331 shares of the company were exchanged, compared to its average volume of 647,568. 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's fifty day moving average price is $147.84 and its 200 day moving average price is $142.30. The company has a market cap of $23.56 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 9.81 and a beta of 0.76. Cincinnati Financial Corporation has a one year low of $115.43 and a one year high of $161.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.37. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. Cincinnati Financial's quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.72 earnings per share. As a group, analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, June 23rd. Cincinnati Financial's dividend payout ratio is presently 37.95%.

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.