Charles Schwab Investment Management Inc. Grows Stock Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Cincinnati Financial Corporation by 6.0%, acquiring an additional 358,018 shares during the first quarter, bringing their total ownership to approximately 4.07%, valued at $940.13 million.
• Cincinnati Financial recently reported $1.97 EPS for the quarter, exceeding analysts' expectations of $1.39, although its revenue of $2.48 billion fell short of the projected $2.80 billion.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with a price target averaging $159.40, reflecting optimism about its future performance.

Charles Schwab Investment Management Inc. increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,364,272 shares of the insurance provider's stock after purchasing an additional 358,018 shares during the period. Charles Schwab Investment Management Inc. owned approximately 4.07% of Cincinnati Financial worth $940,130,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Spire Wealth Management boosted its stake in shares of 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 purchasing an additional 76 shares during the period. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial during the 1st quarter valued at about $26,000. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial during the 1st quarter valued at 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 valued at $38,000 after buying an additional 102 shares in the last quarter. Finally, 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 valued at $38,000 after buying an additional 200 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CINF. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Roth Capital lifted their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Performance

NASDAQ:CINF traded down $1.34 during trading hours on Friday, hitting $150.13. 510,570 shares of the company were exchanged, compared to its average volume of 620,386. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 7.51 and a beta of 0.70. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The company's 50 day moving average price is $148.30 and its 200-day moving average price is $143.28.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its 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 company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. Cincinnati Financial's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. As a group, research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

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.