Merit Financial Group LLC Buys 3,776 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Merit Financial Group LLC raised its holdings in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 88.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,047 shares of the insurance provider's stock after buying an additional 3,776 shares during the quarter. Merit Financial Group LLC's holdings in Cincinnati Financial were worth $1,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Captrust Financial Advisors increased its holdings in Cincinnati Financial by 13.6% in the 4th quarter. Captrust Financial Advisors now owns 17,685 shares of the insurance provider's stock valued at $2,541,000 after buying an additional 2,122 shares during the period. New York Life Investment Management LLC increased its holdings in Cincinnati Financial by 11.5% in the 4th quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider's stock valued at $3,322,000 after buying an additional 2,383 shares during the period. Proficio Capital Partners LLC bought a new stake in Cincinnati Financial in the 4th quarter valued at $4,935,000. Aviva PLC increased its holdings in Cincinnati Financial by 68.0% in the 4th quarter. Aviva PLC now owns 9,731 shares of the insurance provider's stock valued at $1,398,000 after buying an additional 3,938 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Cincinnati Financial by 15,698.7% in the 1st quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock valued at $120,540,000 after buying an additional 810,840 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Stock Down 0.0%

Shares of NASDAQ CINF traded down $0.06 during midday trading on Wednesday, reaching $146.99. The company's stock had a trading volume of 427,193 shares, compared to its average volume of 662,633. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a fifty-two week low of $111.92 and a fifty-two week high of $161.75. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 8.30 and a beta of 0.78. The stock has a 50 day simple moving average of $141.81 and a 200-day simple moving average of $143.11.

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 for the quarter, beating the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The business had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.70 billion. During the same period last year, the business earned $1.72 earnings per share. The firm's revenue was up 13.2% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be given a dividend of $0.87 per share. The ex-dividend date is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.37%. Cincinnati Financial's dividend payout ratio (DPR) is 37.95%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CINF. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Roth Mkm upped their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.40.

Cincinnati Financial Company 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.