Cincinnati Financial Corporation $CINF Shares Acquired 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 position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 89.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,499 shares of the insurance provider's stock after purchasing 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spire Wealth Management lifted its holdings in Cincinnati Financial by 77.6% in 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 Cincinnati Financial in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new position in Cincinnati Financial in the first quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Cincinnati Financial in the first quarter valued at approximately $32,000. Finally, Capital Advisors Ltd. LLC lifted its holdings in Cincinnati Financial by 5,000.0% in the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 250 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of CINF traded up $0.10 during trading hours on Friday, hitting $156.86. 613,681 shares of the stock were exchanged, compared to its average volume of 407,174. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $161.74. The company has a market cap of $24.53 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 7.67 and a beta of 0.72. The stock's 50-day moving average price is $151.16 and its two-hundred day moving average price is $146.10.

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

Cincinnati Financial Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.