Commerce Bank Invests $2.24 Million in Cincinnati Financial Corporation $CINF

Key Points

• Commerce Bank purchased 12,085 shares of Cincinnati Financial during the second quarter, valued at approximately $2.24 million. Institutional investors collectively own 65.24% of the insurer’s outstanding stock.
• Cincinnati Financial reported quarterly revenue of $4.27 billion, exceeding expectations, but earnings of $1.43 per share missed estimates of $1.82. Analysts forecast full-year earnings of $8.31 per share.
• The company declared a quarterly dividend of $0.94 per share, representing an annualized payout of $3.76 and a 2.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $195.40.

Commerce Bank purchased a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,085 shares of the insurance provider's stock, valued at approximately $2,237,000.

Several other institutional investors have also bought and sold shares of the company. Keating Financial Advisory Services Inc. purchased a new stake in Cincinnati Financial in the second quarter worth $27,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial in the fourth quarter valued at $29,000. Covestor Ltd lifted its position in shares of Cincinnati Financial by 98.8% during the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after buying an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cincinnati Financial during the 1st quarter valued at $34,000. Finally, DV Equities LLC bought a new position in shares of Cincinnati Financial during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

Shares of CINF opened at $171.21 on Tuesday. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The stock's 50-day simple moving average is $178.00 and its 200 day simple moving average is $168.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 3.52 and a beta of 0.55.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The company had revenue of $4.27 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same period in the previous year, the firm earned $1.97 EPS. Research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial's payout ratio is currently 17.74%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America cut Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Weiss Ratings lowered shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Friday. Keefe, Bruyette & Woods reduced their target price on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a research note on Wednesday, August 5th. Roth Capital boosted their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Finally, Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial currently has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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