Contravisory Investment Management Inc. Takes $270,000 Position in Cincinnati Financial Corporation $CINF

Key Points

• Contravisory Investment Management Inc. has acquired a new stake in Cincinnati Financial Corporation, purchasing 1,814 shares valued at approximately $270,000 during the second quarter.
• In the second quarter, several other institutional investors also increased their holdings in Cincinnati Financial, resulting in 65.24% of the stock now being owned by institutional investors and hedge funds.
• Cincinnati Financial reported earnings of $1.97 per share for the last quarter, significantly exceeding analysts' expectations of $1.39, despite revenue falling short of projections at $2.48 billion.

Contravisory Investment Management Inc. purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,814 shares of the insurance provider's stock, valued at approximately $270,000.

Several other institutional investors have also added to or reduced their stakes in CINF. Bison Wealth LLC acquired a new position in Cincinnati Financial in the fourth quarter valued at approximately $210,000. Tidal Investments LLC grew its holdings in Cincinnati Financial by 61.6% during the fourth quarter. Tidal Investments LLC now owns 9,405 shares of the insurance provider's stock worth $1,351,000 after buying an additional 3,586 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Cincinnati Financial by 29.4% during the fourth quarter. Two Sigma Advisers LP now owns 2,200 shares of the insurance provider's stock worth $316,000 after buying an additional 500 shares in the last quarter. Vident Advisory LLC grew its holdings in Cincinnati Financial by 113.9% during the fourth quarter. Vident Advisory LLC now owns 13,010 shares of the insurance provider's stock worth $1,870,000 after buying an additional 6,929 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in Cincinnati Financial during the fourth quarter worth $1,349,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Up 0.1%

NASDAQ CINF traded up $0.18 on Friday, reaching $156.11. The stock had a trading volume of 1,123,166 shares, compared to its average volume of 397,308. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 7.64 and a beta of 0.72. The business has a 50 day moving average price of $151.98 and a 200 day moving average price of $146.44. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The company 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 posted $1.29 EPS. The firm's revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is presently 30.18%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Roth Capital upped their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $159.40.

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.