Citigroup Inc. Raises Stock Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Citigroup Inc. increased its holdings in Cincinnati Financial Corporation by 14.8% during the first quarter, owning 160,497 shares valued at approximately $23.7 million.
• Several other institutional investors, including Vanguard Group and Charles Schwab, also adjusted their stakes in Cincinnati Financial, contributing to a collective institutional ownership of 65.24%.
• The stock has seen positive analyst ratings, with targets raised by Roth Capital and Keefe, Bruyette & Woods, suggesting a consensus rating of "Moderate Buy" with an average target price of $159.40.

Citigroup Inc. increased its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 14.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,497 shares of the insurance provider's stock after acquiring an additional 20,688 shares during the period. Citigroup Inc. owned about 0.10% of Cincinnati Financial worth $23,709,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Cincinnati Financial by 0.5% in the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock worth $2,844,419,000 after acquiring an additional 87,773 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Cincinnati Financial by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock worth $940,130,000 after acquiring an additional 358,018 shares during the period. Northern Trust Corp boosted its stake in shares of Cincinnati Financial by 10.8% in the fourth quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider's stock worth $240,297,000 after acquiring an additional 162,714 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cincinnati Financial by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,415,742 shares of the insurance provider's stock worth $203,438,000 after acquiring an additional 34,810 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of Cincinnati Financial by 4.2% in the first quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider's stock worth $205,061,000 after acquiring an additional 55,487 shares during the period. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Down 2.0%

CINF stock traded down $3.09 during midday trading on Friday, reaching $151.06. 760,775 shares of the company traded hands, compared to its average volume of 598,658. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74. 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 business has a 50 day moving average of $148.43 and a 200-day moving average of $143.79. The firm has a market capitalization of $23.62 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 7.49 and a beta of 0.70.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CINF shares. Roth Capital upped their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.