Deutsche Bank AG Raises Holdings in Cincinnati Financial Corporation $CINF

Key Points

• Deutsche Bank increased its Cincinnati Financial stake by 18.8% in the second quarter, owning 708,485 shares valued at approximately $131.2 million. Institutional investors collectively hold 65.24% of the insurer’s stock.
• Cincinnati Financial reported quarterly earnings of $1.43 per share, missing the $1.82 consensus estimate, while revenue reached $4.27 billion versus expectations of $2.71 billion. Analysts expect full-year earnings of $8.31 per share.
• The stock opened at $168.49, below its 50-day average of $177.98, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $195.40.

Deutsche Bank AG raised its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 18.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 708,485 shares of the insurance provider's stock after purchasing an additional 112,046 shares during the quarter. Deutsche Bank AG owned 0.46% of Cincinnati Financial worth $131,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Motiv8 Investments LLC purchased a new stake in Cincinnati Financial in the 4th quarter valued at about $29,000. Covestor Ltd lifted its position in Cincinnati Financial by 98.8% in the second 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 Cincinnati Financial during the first quarter worth about $34,000. DV Equities LLC purchased a new position in Cincinnati Financial during the fourth quarter worth about $36,000. Finally, Legacy Wealth Managment LLC ID boosted its stake in Cincinnati Financial by 78.8% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock worth $40,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $168.49 on Thursday. The stock has a market cap of $25.86 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 3.59 and a beta of 0.54. The company has a fifty day simple moving average of $177.98 and a 200-day simple moving average of $168.49. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CINF shares. Keefe, Bruyette & Woods reduced their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 5th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Roth Capital lifted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, August 6th. Finally, Piper Sandler boosted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. One 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $195.40.

About Cincinnati Financial

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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