Cincinnati Financial Corporation (NASDAQ:CINF) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Cincinnati Financial Corporation by 10.1% during the first quarter, holding 60,911 shares valued at approximately $9 million.
• Cincinnati Financial reported earnings of $1.97 EPS for the last quarter, surpassing analysts' expectations and showing a 15.5% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.87 per share, resulting in an annualized dividend yield of 2.4%.

Mackenzie Financial Corp grew its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,911 shares of the insurance provider's stock after purchasing an additional 5,573 shares during the quarter. Mackenzie Financial Corp's holdings in Cincinnati Financial were worth $8,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Spire Wealth Management grew its position in shares of Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after acquiring an additional 76 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in Cincinnati Financial during the 1st quarter worth $30,000. Capital Advisors Ltd. LLC increased its stake in 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 raised its holdings 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 buying an additional 102 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its stake in shares of Cincinnati Financial by 333.3% during the first 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. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Trading Down 0.9%

Shares of NASDAQ:CINF traded down $1.32 during midday trading on Friday, reaching $146.19. The company's stock had a trading volume of 694,651 shares, compared to its average volume of 569,180. The firm has a market cap of $22.86 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 7.39 and a beta of 0.70. The business has a 50 day moving average price of $148.04 and a 200 day moving average price of $142.93. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Roth Capital increased their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Cincinnati Financial has an average rating of "Moderate Buy" and an average price target of $159.20.

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.