Fairvoy Private Wealth LLC Takes $883,000 Position in Cincinnati Financial Corporation $CINF

Key Points

• Fairvoy Private Wealth LLC acquired a new stake in Cincinnati Financial Corporation worth approximately $883,000, purchasing 5,930 shares in the second quarter.
• Analysts have boosted the target price for Cincinnati Financial shares, with Keefe, Bruyette & Woods raising it from $167.00 to $168.00 and Roth Capital from $160.00 to $175.00, both assigning a "buy" or "outperform" rating.
• The company announced a quarterly dividend of $0.87, resulting in an annualized yield of 2.1%, to be paid to shareholders on October 15th.

Fairvoy Private Wealth LLC bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,930 shares of the insurance provider's stock, valued at approximately $883,000.

A number of other large investors also recently modified their holdings of CINF. Quintet Private Bank Europe S.A. purchased a new stake in Cincinnati Financial in the 2nd quarter worth $25,000. Spire Wealth Management grew its holdings in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 76 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Cincinnati Financial during the 1st quarter valued at about $26,000. Alpine Bank Wealth Management bought a new position in Cincinnati Financial during the 1st quarter valued at about $30,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in Cincinnati Financial in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CINF shares. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Roth Capital increased their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cincinnati Financial in a report on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Trading Up 1.7%

Shares of Cincinnati Financial stock opened at $163.29 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a fifty day moving average price of $153.62 and a 200 day moving average price of $147.45. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $164.03. The stock has a market cap of $25.54 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 7.86 and a beta of 0.72.

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, 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 during the quarter, compared to analysts' expectations of $2.80 billion. During the same quarter last year, the company posted $1.29 earnings per share. The firm's revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. Cincinnati Financial's 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.

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Corporation (NASDAQ:CINF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.