Envestnet Asset Management Inc. Boosts Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

Envestnet Asset Management Inc. increased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,452 shares of the insurance provider's stock after buying an additional 14,440 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Cincinnati Financial worth $22,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CINF. Norges Bank bought a new position in Cincinnati Financial during the fourth quarter worth about $223,959,000. GAMMA Investing LLC boosted its position in Cincinnati Financial by 15,698.7% during the first quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock worth $120,540,000 after purchasing an additional 810,840 shares during the period. Topsail Wealth Management LLC bought a new position in Cincinnati Financial during the fourth quarter worth about $47,114,000. Caisse DE Depot ET Placement DU Quebec boosted its position in Cincinnati Financial by 62.6% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock worth $90,166,000 after purchasing an additional 241,540 shares during the period. Finally, First Trust Advisors LP boosted its position in Cincinnati Financial by 26.7% during the fourth quarter. First Trust Advisors LP now owns 980,582 shares of the insurance provider's stock worth $140,910,000 after purchasing an additional 206,693 shares during the period. Institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. 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 report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $155.25.

Cincinnati Financial Price Performance

Cincinnati Financial stock traded up $0.73 during mid-day trading on Thursday, hitting $148.46. 232,546 shares of the company traded hands, compared to its average volume of 646,788. Cincinnati Financial Corporation has a one year low of $115.43 and a one year high of $161.75. The stock has a market cap of $23.20 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 9.68 and a beta of 0.76. 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 stock has a fifty day moving average price of $147.80 and a 200-day moving average price of $142.26.

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, beating 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 business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the business posted $1.72 earnings per share. Cincinnati Financial's revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business 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. The ex-dividend date was Monday, June 23rd. This represents a $3.48 annualized dividend and a yield of 2.34%. Cincinnati Financial's payout ratio is presently 37.95%.

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.