Cincinnati Financial Corporation $CINF Position Increased by Everstar Asset Management LLC

Key Points

• Everstar Asset Management LLC increased its stake in Cincinnati Financial Corporation by 89.3% during the 1st quarter, raising its holdings to $665,000.
• Goldman Sachs Group Inc. also boosted its stake in Cincinnati Financial by 43.9% during the same period, owning a total of 567,894 shares valued at approximately $83.89 million.
• The company reported earnings of $1.97 EPS for the last quarter, beating estimates, despite revenue of $2.48 billion falling short of expectations.

Everstar Asset Management LLC increased its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 89.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,499 shares of the insurance provider's stock after acquiring an additional 2,122 shares during the quarter. Everstar Asset Management LLC's holdings in Cincinnati Financial were worth $665,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Cincinnati Financial in the first quarter worth about $337,000. FJ Capital Management LLC raised its stake in Cincinnati Financial by 97.5% during the first quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider's stock valued at $4,327,000 after buying an additional 14,464 shares in the last quarter. M&T Bank Corp raised its stake in Cincinnati Financial by 12.7% during the first quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock valued at $1,161,000 after buying an additional 887 shares in the last quarter. CWA Asset Management Group LLC raised its stake in Cincinnati Financial by 4.1% during the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after buying an additional 94 shares in the last quarter. Finally, OLD Republic International Corp raised its stake in Cincinnati Financial by 1.0% during the first quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock valued at $58,955,000 after buying an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CINF. 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. Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF traded up $0.15 on Friday, reaching $156.91. 223,090 shares of the company traded hands, compared to its average volume of 663,257. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $161.74. The company's 50 day moving average is $151.00 and its 200-day moving average is $145.95. The stock has a market capitalization of $24.54 billion, a PE ratio of 13.61, a P/E/G ratio of 7.45 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

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, topping the consensus estimate of $1.39 by $0.58. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. As a group, analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

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.