Empirical Asset Management LLC Makes New $824,000 Investment in Cincinnati Financial Corporation $CINF

Key Points

• Empirical Asset Management LLC made a new investment of $824,000 in Cincinnati Financial Corporation by purchasing 5,533 shares in the second quarter, according to a recent SEC filing.
• Cincinnati Financial reported an EPS of $1.97 for the last quarter, exceeding estimates, with a revenue of $2.48 billion, which was below analysts' expectations.
• The insurance company declared a quarterly dividend of $0.87 per share, yielding 2.3%, reflecting a payout ratio of 30.18%.

Empirical Asset Management LLC purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,533 shares of the insurance provider's stock, valued at approximately $824,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quintet Private Bank Europe S.A. acquired a new position in shares of Cincinnati Financial during the second quarter valued at $25,000. Spire Wealth Management boosted its holdings in shares of Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 76 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Cincinnati Financial during the first quarter valued at $26,000. Alpine Bank Wealth Management acquired a new position in shares of Cincinnati Financial during the first quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of Cincinnati Financial during the first quarter valued at $32,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $151.39 on Friday. 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 company's 50-day moving average price is $155.48 and its two-hundred day moving average price is $148.30. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $166.90. The stock has a market cap of $23.67 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 7.46 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping 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 firm had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.80 billion. During the same period in the previous year, the business earned $1.29 earnings per share. Cincinnati Financial's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were given a $0.87 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.48 annualized dividend and a yield of 2.3%. Cincinnati Financial's payout ratio is 30.18%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CINF. Weiss Ratings reissued a "buy (b)" rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Roth Capital upped their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average price target of $157.25.

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.

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