Cullen Frost Bankers Inc. Raises Stake in Cincinnati Financial Corporation (NASDAQ:CINF)

Cullen Frost Bankers Inc. raised its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 92,271 shares of the insurance provider's stock after acquiring an additional 5,975 shares during the period. Cullen Frost Bankers Inc. owned approximately 0.06% of Cincinnati Financial worth $13,630,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Spire Wealth Management lifted its stake in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 76 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Cincinnati Financial in the first quarter valued at about $30,000. Capital Advisors Ltd. LLC lifted its stake in shares of Cincinnati Financial by 5,000.0% in the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 250 shares during the period. GoalVest Advisory LLC lifted its stake in shares of Cincinnati Financial by 65.4% in the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 102 shares during the period. Finally, Whipplewood Advisors LLC lifted its stake in shares of Cincinnati Financial by 333.3% in the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

CINF traded up $1.70 during midday trading on Friday, reaching $150.73. 699,338 shares of the company's stock were exchanged, compared to its average volume of 647,568. 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 stock has a market capitalization of $23.56 billion, a PE ratio of 16.44, a P/E/G ratio of 9.81 and a beta of 0.76. The business's 50-day moving average price is $147.84 and its 200 day moving average price is $142.30. Cincinnati Financial Corporation has a 1-year low of $115.43 and a 1-year high of $161.75.

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

Cincinnati Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on CINF shares. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $150.00 to $167.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $155.25.

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.