LPL Financial LLC Increases Stock Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• LPL Financial LLC increased its stake in Cincinnati Financial Corporation by 30.5% during the first quarter, acquiring an additional 37,489 shares, bringing their total holdings to approximately $23.68 million.
• Analysts have a generally positive outlook on Cincinnati Financial, with four buy ratings and a consensus target price of $159.20, following recent upgrades from various research firms.
• Cincinnati Financial reported earnings of $1.97 per share for the quarter, significantly exceeding analysts' expectations of $1.39, and noted a year-over-year revenue increase of 15.5%.

LPL Financial LLC increased its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 30.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,325 shares of the insurance provider's stock after acquiring an additional 37,489 shares during the period. LPL Financial LLC owned approximately 0.10% of Cincinnati Financial worth $23,683,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Spire Wealth Management grew its stake in Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares during the last quarter. Alpine Bank Wealth Management bought a new position in Cincinnati Financial during the 1st quarter valued at about $30,000. 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 valued at $38,000 after purchasing an additional 250 shares during the last quarter. 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 purchasing an additional 102 shares during the last quarter. Finally, Whipplewood Advisors LLC raised 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 worth $38,000 after acquiring an additional 200 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Price Performance

CINF traded up $0.69 during midday trading on Tuesday, hitting $150.43. The stock had a trading volume of 569,210 shares, compared to its average volume of 607,940. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74. The business has a fifty day moving average of $148.12 and a 200 day moving average of $143.01. The company has a market cap of $23.52 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 7.57 and a beta of 0.70.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective 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 research note on Thursday, April 17th. Finally, Roth Capital increased their price objective 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial 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.