Cincinnati Financial Corporation $CINF Holdings Raised by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC significantly increased its stake in Cincinnati Financial Corporation, acquiring an additional 39,636 shares, which boosted its total holdings by 194% to 60,062 shares valued at approximately $8.9 million.
• Several other institutional investors also enhanced their positions in Cincinnati Financial, resulting in institutional ownership amounting to 65.24% of the stock.
• Cincinnati Financial reported $1.97 earnings per share for the last quarter, surpassing estimates, while also experiencing a year-over-year revenue increase of 15.5%.

Cresset Asset Management LLC lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 194.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,062 shares of the insurance provider's stock after acquiring an additional 39,636 shares during the period. Cresset Asset Management LLC's holdings in Cincinnati Financial were worth $8,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. M&T Bank Corp raised its position in shares of Cincinnati Financial by 12.7% during the 1st quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock valued at $1,161,000 after acquiring an additional 887 shares in the last quarter. CWA Asset Management Group LLC raised its position in shares of Cincinnati Financial by 4.1% during the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after acquiring an additional 94 shares in the last quarter. OLD Republic International Corp raised its position in shares of Cincinnati Financial by 1.0% during the 1st quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock valued at $58,955,000 after acquiring an additional 4,000 shares in the last quarter. Merit Financial Group LLC raised its position in shares of Cincinnati Financial by 88.4% during the 1st quarter. Merit Financial Group LLC now owns 8,047 shares of the insurance provider's stock valued at $1,189,000 after acquiring an additional 3,776 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Cincinnati Financial by 8.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 65,356 shares of the insurance provider's stock valued at $9,654,000 after acquiring an additional 5,159 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF traded up $1.27 on Wednesday, hitting $153.65. The company's stock had a trading volume of 529,390 shares, compared to its average volume of 609,750. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74. The company has a market capitalization of $24.03 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 7.46 and a beta of 0.70. 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's 50-day moving average is $148.69 and its two-hundred day moving average is $144.04.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating 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 business had revenue of $2.48 billion during 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. Cincinnati Financial's revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

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.