Element Capital Management LLC Purchases New Position in Cincinnati Financial Corporation $CINF

Key Points

• Element Capital Management LLC has made a new investment in Cincinnati Financial Corporation, purchasing 18,615 shares valued at approximately $2.75 million.
• Other institutional investors have also increased their stakes, with Aberdeen Group plc leading with a 78.9% increase in ownership during the same quarter.
• Wall Street analysts have been optimistic, raising Cincinnati Financial’s price targets, with Roth Capital setting a new target of $175.00 and rating it as a "buy."

Element Capital Management LLC purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 18,615 shares of the insurance provider's stock, valued at approximately $2,750,000.

Several other hedge funds have also modified their holdings of the business. Mariner LLC grew its position in Cincinnati Financial by 0.8% during the fourth quarter. Mariner LLC now owns 84,354 shares of the insurance provider's stock valued at $12,122,000 after acquiring an additional 679 shares during the period. Guggenheim Capital LLC grew its position in Cincinnati Financial by 231.5% during the fourth quarter. Guggenheim Capital LLC now owns 14,850 shares of the insurance provider's stock valued at $2,134,000 after acquiring an additional 10,370 shares during the period. Jump Financial LLC grew its position in Cincinnati Financial by 451.7% during the fourth quarter. Jump Financial LLC now owns 9,914 shares of the insurance provider's stock valued at $1,425,000 after acquiring an additional 8,117 shares during the period. United Capital Financial Advisors LLC grew its position in Cincinnati Financial by 10.5% during the fourth quarter. United Capital Financial Advisors LLC now owns 2,671 shares of the insurance provider's stock valued at $384,000 after acquiring an additional 254 shares during the period. Finally, NewEdge Advisors LLC grew its position in Cincinnati Financial by 3.4% during the fourth quarter. NewEdge Advisors LLC now owns 20,424 shares of the insurance provider's stock valued at $2,935,000 after acquiring an additional 681 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CINF. Roth Capital boosted 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 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Stock Down 2.0%

Cincinnati Financial stock traded down $3.09 during mid-day trading on Friday, hitting $151.06. 760,775 shares of the company's stock were exchanged, compared to its average volume of 601,729. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $23.62 billion, a P/E ratio of 13.10, a P/E/G ratio of 7.49 and a beta of 0.70. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $161.74. The stock has a 50 day moving average of $148.43 and a two-hundred day moving average of $143.83.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The business had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.80 billion. During the same quarter last year, the company earned $1.29 earnings per share. The firm's revenue was up 15.5% on a year-over-year basis. As a group, analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal 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.