Private Advisor Group LLC Has $1.50 Million Stake in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Private Advisor Group LLC increased its stake in Cincinnati Financial Corporation by 32.8%, owning 10,138 shares worth about $1.5 million as of the latest SEC filing.
• Analyst upgrades have boosted Cincinnati Financial's outlook, with Keefe, Bruyette & Woods raising the price target from $150 to $167 and the stock receiving an average rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.87 per share, resulting in an annualized dividend yield of 2.33% and a payout ratio of 37.95%.

Private Advisor Group LLC grew its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 32.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,138 shares of the insurance provider's stock after purchasing an additional 2,506 shares during the quarter. Private Advisor Group LLC's holdings in Cincinnati Financial were worth $1,497,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management lifted its position 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 valued at $26,000 after buying an additional 76 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Cincinnati Financial in the first quarter worth $30,000. GoalVest Advisory LLC grew its position in shares of Cincinnati Financial by 65.4% during the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after purchasing an additional 102 shares in the last quarter. Whipplewood Advisors LLC raised its position in Cincinnati Financial by 333.3% during 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. Finally, Capital Advisors Ltd. LLC raised its holdings 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 worth $38,000 after buying an additional 250 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF traded down $1.69 during midday trading on Monday, hitting $147.71. The company's stock had a trading volume of 210,246 shares, compared to its average volume of 695,934. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm's fifty day moving average price is $147.96 and its 200-day moving average price is $142.61. The firm has a market cap of $23.09 billion, a P/E ratio of 16.11, a P/E/G ratio of 9.92 and a beta of 0.76. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $161.74.

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

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Monday, June 23rd. Cincinnati Financial's dividend payout ratio (DPR) is presently 37.95%.

Analyst Upgrades and Downgrades

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